Pbi varsity told to pull up socks

PATIALA: Taking a serious note of the financial mess at Punjab University, Patiala, the Punjab higher education department has directed its authorities to pull up their socks in order to bring the 58-year-old institution back on track.

A high-level meeting chaired by secretary, higher education, Rahul Bhandari was held in Chandigarh on Thursday to discuss issues, especially the financial crisis in the university, at length. The varsity is toiling hard to meet its monthly committed expenditure, including payment of salaries to its employees. Vice-chancellor Prof BS Ghuman, along with a team of senior functionaries of university, higher education department and three retired professors of government colleges attended the meeting.

“A meeting was held not only to take stock of the present situation, but to have a freewheeling discussion to resolve key issues, such as financial mess and pending inquiry reports, at the earliest. The basic purpose of the meeting was to come up with immediate steps to improve the overall condition of the university,” Bhandari said.

On the financial front, Bhandari said the department told the university authorities that the government can only provide annual grant as allocated, while it has to generate its income from its own resources.

“Though vice-chancellor is empowered to take all key decisions, the department has asked the university to reduce its expenses and adopt some austerity measures ,” said Bhandari.

As per budgetary proposals for this fiscal, the university expects an income of ₹380 crore, while the expenditure is pegged at ₹676 crore, leaving a massive ₹296-crore deficit. The university also has an overdraft of ₹140 crore, which is expected to touch ₹150 crore by the end of the year.

The failure of varsity in making timely payments of salaries has forced teaching, non-teaching employees and pensions to sit on protest .

THE VARSITY EYES AN INCOME OF ₹380 CR THIS FISCAL, WHILE THE EXPENDITURE IS PEGGED AT ₹676 CRORE, LEAVING A MASSIVE DEFICIT OF ₹296-CR