The PU budget has been approved at Rs12.6 billion. The PU Senate, in its 357th sitting, adopted an Rs12.6 billion budget for the fiscal year 2021-2022 on Wednesday, marking the university’s 357th meeting.
The President of the online meeting was Governor/Chancellor Chaudhry Sarwar. Conducted the conference in real-time. More than 150 members of the PU Senate, including Vice-Chancellor Prof Niaz Ahmed and Pro-Vice-Chancellor Prof Dr. Saleem Mazhar, took part in the event.
In his remarks to the gathering, the governor stated that instructions were provided to the finance department to exclude the universities from the 25 percent disparity allowance requirement.
He stated that colleges, which had the financial means to provide differential allowances to their employees from their resources, would have the authority to make choices in this area independently.
Prof Niaz Ahmed, who briefed the Senate on the budget, underlined the most critical aspects of the plan and stated that the number of scholarships awarded to students exceeded the tuition fees the university collected from them.
He explained that during Covid-19, the administration waived the charge and that the organization’s revenue sources had diminished for a variety of other reasons.
According to him, the university was coping with the budget shortfall by limiting expenditure and implementing austerity measures, among other things.
He claimed that the federal government had pledged to boost financing from Rs2.8 billion to Rs3.3 billion due to the efforts of the chancellor.
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The vice-chancellor proposed that the governor authorize an honorarium for PU teachers as a gesture of appreciation for their excellent work in ensuring the continuation of the educational process during Covid-19. The idea for a [honorarium] received the consent of the governor.
During the presentation of the yearly report, the vice-chancellor stated that the university’s international ranking had improved by 16 percent. He stated that the 13 disciplines offered by PU were ranked worldwide for the first time and that the chemical and petroleum engineering department was ranked among the top 100-150 universities in the world by the QS.
Prof Niaz Ahmed stated that the PU has also improved its Asian rating, which currently stands at 178th, representing a significant jump of 54 points in only two years.
In addition, he said, The Nature Publishing Group, a world-class publisher of high-impact scientific and medical information in print and online that was founded in 1869, has ranked Punjab University No. 1 among all.
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