‘KU needs Rs7bn yearly to overcome financial crisis’

Karachi University needs Rs7 billion per annum to overcome the current financial constraints and promote academics and research in the varsity.

Due to the merger of funds of the evening and morning shifts by the former KU administration, the varsity has been facing a severe financial crisis. These views were expressed by Vice Chancellor Prof Dr Muhammad Ajmal Khan while addressing a faculty meeting at the Arts Auditorium.

He claimed that during his tenure he had secured a grant of around Rs3 billion, which was unprecedented. Every year, the KU receives a grant of Rs2 billion from the Higher Education Commission of Pakistan and generates the same amount from its own resources, but the money is still insufficient.

However, the varsity spends Rs3.5 billion yearly on account of payment of salaries and pensions, including Rs 250 million on providing medical facilities to the KU employees. Similarly, KU hardly manage funds for expenditures included utility bills, advertisements, lab equipments, chemicals, papers, office furniture, electric equipments and other necessary items.

“We are reviewing the billing of electricity, gas and water and devising a mechanism to control them which will save us 40 million.” He appealed to the HEC to double its grant of Rs2 billion and also asked the Sindh government to increase the grant up to Rs1 billion. He stated that the KU accounts section would soon be computerised, a survey was also being conducted on illegal residents on campus and soon action would be taken without any discrimination.