APP
\nPESHAWAR
\nThe University of Peshawar (UoP), one of the oldest and leading institutions of higher education in the country, is facing critical financial crisis having no funds to pay salaries to 2800 regular, over 500 contractual employees and 1540 pensioners on February 1.
\nVice Chancellor UoP Dr M. Asif Khan has written a letter to Chief Minister Khyber Pakhtunkhwa Mehmood Khan on January 27 and requested for Rs 200 million bailout package to enable the varsity to pay forthcoming salary and pensions to its employees and pensioners, the spokesman of UoP confirmed.
\nThe VC also requested the KP government to also approve grant of Rs 150 million for the university to meet its monthly operational expenditure, the letter available with this agency revealed.
\nAccording to it, VC informed that both Higher Education Commission and provincial government had been continuously informed about the critical financial position of the varsity from last several months and grant of bailout package but to no use.
\nThe main reason of the shortfall was told insufficient increase in grant over the period of last 12 years it said adding that the grant was not correspondingly increased over the period to match the burgeoning expenditure on salary and pension as announce by the government meanwhile.
\nIt said that from financial year 2006-07 to 2018-19 the salaries\u2019 amount increased 270 percent with Rs 470 million in 2006-07 to Rs 1737 million in 2018-19 while the pension increased 979 percent with Rs 84 million in 2006-07 to Rs 906 million in 2018-19.
\nIt said against an increase of Rs 2089 million in salary and pension, the increase in government grant for the same period is only 819 million despite the fact that the university is following the government basic pay scales and pension rules since 1970s.
\nCurrently the university has to pay Rs 160 million under the head of salary and Rs 70 million for pension, Rs 133.40 million for commutation, Rs 20 million for utilities and Rs 20 for miscellaneous expenditure.
\nThe letter further added that the varsity had taken several measures to overcome the deficit in the last two years by increasing students\u2019 enrolment, hostels revenue and succeeded to generate Rs 325 million, however the amount was not enough to meet the ever increasing expenditure on accounts of salaries and pensions.
\nIt said that the university has Rs 69.611 million cash in all its bank accounts in different banks against the shortfall of Rs 203. 597million.<\/p>\n","protected":false},"excerpt":{"rendered":"
APP PESHAWAR The University of Peshawar (UoP), one of the oldest and leading institutions of higher education in the country, is facing critical financial crisis having no funds to pay salaries to 2800 regular, over 500 contractual employees and 1540 pensioners on February 1. Vice Chancellor UoP Dr M. Asif Khan has written a letter […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":{"0":"post-104797","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-peshawar"},"yoast_head":"\n