Chitral Times Report
PESHAWAR: The Budgets for the Fiscal Year 2021-22 of the Khyber Medical University, University of Peshawar and University of Chitral were approved in separate Senate meetings of the Universities which were held here in Governor’s House today. The Governor Shah Farman, while chairing a Senate meeting of the KMU, stressed upon ensuring financial discipline in the University and taking solid initiatives with regard to modern research in the health sector which shall be shared with the Health Department of Khyber Pakhtunkhwa for designing its policies accordingly and ensuring optimum and effective output.
The Senate meetings of the Public Sector Universities of Khyber Pakhtunkhwa are being held on the directives of the Governor Shah Farman in order to approve their budgets for Financial Year 2021-22 in time and let the Universities execute their plan of actions effectively.
Out of 32 Public Sectors Universities of the province the budget for the Fiscal Year 2021-22 of 22 Universities has been approved so far in their scheduled Senate meetings held at the Governor’s House. Rest of the universities would submit their budget for approval till 30th June as per schedule already issued to them by the Governor’s Secretariat.
On the directives of the Governor/Chancellor, this exercise is exclusively being done for the first time in the history of the varsities’ budgetary affairs with an aim to streamline the budget process of all Public Sector Universities besides putting their financial discipline on track. In this regard, instructions were already circulated to all the Public Sector Universities to prepare their Budget, for Financial Year 2021-22, and present it to their Senate for final approval.
The Governor who is also Chancellor of the Public Sector Universities took serious notice of presentation of budget of respective Financial Years by the Public Sector Universities concerned to their Senate after the relevant financial year has already started and issued directives for submitting the Budgets of the Universities to their Senate in the month of June 2021.
The Governor/Chancellor is committed to bring out the higher educational institutions from financial crisis and has directed all varsities from the day one to establish Endowment and Pension Funds along with well-framed policies for their financial sustainability.
The Governor Shah Farman said that he wanted to see all the universities self-sustaining and more strengthened in financial and administrative affairs adding preparation and approval of budget on time would result in accurate expenditure and could solve the financial issues of the Universities.
