PESHAWAR:23 May: The University of Peshawar requires Rs 180 million to meet its expenditures for the remaining two months of the current fiscal year.

“The university is in dire need of Rs 180 million to meet its requirement, including salaries, daily expenses and medical bills etc. In such a situation, all the departments should take austerity measures to reduce the pressure being faced by the higher education institution,” said Treasurer Iftikhar Hussain Khan in a brief on Tuesday. The treasurer said that Rs 251 million was required to meet its needs for the last quarter of the financial year.

“However, only Rs 72 millions have been provided by Higher Education Commission, which is a point of great concern,” he said. He added that the budget estimate for 2011-12 was Rs 2.510 billion, in which Rs 1.75 billion was requested from the HEC and around Rs 750 million was estimated to be filled from the university’s own resources. However, the HEC agreed to provide only Rs 837 million, which is 55 percent of the total amount.

Iftikhar said if such financial situation prevailed, it would be difficult to pay May and June salaries to the university employees. “The university is currently facing a budget deficit of Rs 405 million. This figure can be curtailed from further aggravation if strict controls on expenditures is adopted,” he said.Daily Times.