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Panjab Unversity in Financial Crisis due to Delay in UGC Fund

July 29, 2016 02:02 PM 3 minute read , Others , Panjab University

Panjab Unversity in Financial Crisis due to Delay in UGC Fund

Plagued by financial crunch due to delay in the release of the second instalment of grants by UGC, Panjab University has to struggle every month to manage Rs 25 crore for the disbursement of salaries to its 3,000 employees.

The Vice Chancellor Arun Kumar Grover of PU said that the salary for July would be disbursed on time while the grant from the HRD Ministry is still awaited.

However, the till the grant is released the authorities have managed the funds from their own accounts to disburse the salary. The salaries from April to June were arranged by shifting funds from various heads by the authorities due to the delay in the release of the first instalment of the grant (Rs 72 crore) whereas these funds are yet to be transferred back.

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Till now the university has received a grant of Rs 40 crore from the UGC. The Vice Chancellor has submitted to the UGC the utilisation certification.

The VC has sent a communication to the UGC head requesting him to get the grant for July to September released as soon as possible by the HRD Ministry so that the salaries and pension of the staff could be disbursed on time.

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The VC said that the Finance Department on the campus has prepared a detailed report that it was found that the university had generated income on an average of 12.5 percent in the last five years. He had demanded to enhance of the grant by 12 percent to the university on the basis of the report.

Come 31st July, Panjab University (PU) authorities will place a proposal before the Syndicate for keeping of representatives from the HRD Ministry and the UGC in its all governing bodies. The move will help them understand the day-to-day functioning of the varsity and the financial issues faced by it. The authorities of University hope that this move will increase the coordination between them and the university.

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A regulations committee set up in this regard has proposed their inclusion in the Syndicate, Senate and the Board of Finance (BoF). The number of ex officio members can be increased to 12 in the Senate with an amendment in Section 12 of the Panjab University Act, the committee suggested.

The central Government can make a provision for the inclusion of representatives from the UGC and HRD Ministry, as ex-office member of the governing bodies, through a notification under Section 72 of the Punjab Regulation Act, 1966.

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The purpose of the amendment was that the HRD Ministry and the UGC be apprised of how the university has been facing the problems said the Vice-Chancellor Arun Kumar Grover.

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Panjab Unversity in Financial Crisis due to Delay in UGC Fund | CollegeDekho