Pbi varsity stares at fund crunch

Ravneet Singh

Tribune News Service

Patiala, February 18

Poor planning has added to the financial burden of Punjabi University, Patiala. 

While the university is expected to earn Rs 304 crore in the next financial year, its expenditure is expected to be around Rs 717 crore. The state government has released a special grant of Rs 50 crore for the university.

Punjabi University today held a meeting of the finance committee to decide upon the university’s interim budget. 

The expenditure for the next financial was passed. It is yet to be presented before the university Syndicate for implementation.

Interestingly, as per sources, the unplanned expenditure at Rs 113 crore is one-third of the expected income. 

The university expects to spend Rs 226 crore on teaching and research purposes. 

Also, the university is expected to pay Rs 20 crore in interest on overdraft of Rs 130 crore, totalling Rs 150 crore.

Among various income sources, the university is expected to get Rs 102 crore from the state government. This includes 6 per cent increase in the grant from the state government. 

The university expects to generate Rs 226 crore from its own sources, including fee for examinations and tuition fee.

While Rakesh Kumar, professor in-charge, finance, and Manjit Singh Nijjar, Registrar could not be contacted, Vice-Chancellor (VC) BS Ghuman refused to comment on the matter. 

The Vice-Chancellor said the university would hold a press conference on the issue on Tuesday.   

Grappling with financial mess

• As per sources, the unplanned expenditure at Rs 113 crore is one-third of the expected income. The university expects to spend Rs 226 crore on teaching and research purposes. Also, the university is expected to pay Rs 20 crore in interest on overdraft of Rs 130 crore, totalling Rs 150 crore.
• The university is expected to get Rs 102 crore from the state government. This includes 6 per cent increase in the grant from the state government. The university expects to generate Rs 226 crore from its own sources, including fee for examinations and tuition fee.   

Special grant by state government

• The Punjab Government has released a special grant of Rs 50 crore for Punjabi University, in addition to yearly increase of 6 per cent to all public-funded universities in the state. Officials in the university said it would help the university in meeting its financial needs. The university had received a similar special grant of Rs 50 crore earlier.