The Vice-Chancellor of Panjab University, Mr. Arun Kumar Gover said that there is no other option for the University except to shut down if the central government does not provide funds to them by January.
It is one of the oldest higher education institutions in the country which is facing a tough time. The VC clearly stated that the University would close by January 1, 2017, if the central government takes no initiative. He mentioned that the Senate approved the University’s estimate budget as Rs. 502.11 crore for the current financial year with a deficit of Rs. 277 crore.
The VC had met Prakash Javadekar, Minister of Human Resource and Development in the month of August and requested the Ministry to release funds from the University Grants Commission (UGC). The UGC has given Rs. 90 crore in two instalments, one in June and other in August. The second instalment was released after the request made by VC.
Dyal Partap Singh Randhawa, a Senate member and the member of the syndicate, said that the government must fund the universities properly. The Senate has invited MHRD to the University so that they can explain the financial crisis to them.
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The University has been functioning with deficit funds since 2014. The Senate members linked to Congress Party blamed the government for not funding universities on time.