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PU mulls leasing out 50-kanal land to bus company

* University to generate Rs 780 million a year through deal
PU mulls leasing   out 50-kanal land  to bus company
afp

LAHORE: The Punjab University Syndicate during its meeting on Saturday decided to discuss the proposed agreement between the university and a private bus company regarding the lease of 50 kanals of land near Faisal Town for Rs 780 million a year.
The syndicate decided to summon its meeting next week to take up the important matter and also ordered to put it up as a regular agenda of the meeting.
It is pertinent to mention here that the Higher Education Commission (HEC) provided less than one-third of the university’s Rs 5 billion budget – Rs 1.6 billion – while the university met the two-thirds of its expenditure through its own resources.
A PU spokesman said that the university charged around Rs 100 million in fees, out of which Rs 70 million were provided to students in terms of fee waiver and scholarships.
The spokesman said that the university had allocated Rs 100 million for the promotion of research culture, while it was paying Rs 75 million for foreign PhD programmes of its faculty members on its own so that the number of PhD faculty members could be increased.
He said that the university needed funds for the establishment of laboratories, purchase of new buses and other development work. 
He said that if the syndicate approved the proposed agreement, the university would be able to help meet its soaring expenditure.
The spokesman said that because of financial problems being faced by all the universities, the HEC and the Punjab government had written letters to universities to generate income through their own resources.
The spokesman said that because of the financial crunch, five universities of the country had to take loans from banks for payment of salaries of their employees, while the Punjab University avoided such a crisis through its financial policies. 
The spokesman said that the government increases salaries and pensions of employees every year in the budget, but did not provide funds to the universities to bear the additional burden.

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