PRO No. 134/11
Dated 16/08/2011
Public Relations Office
The Islamia University of Bahawalpur
The Islamia University of Bahawalpur has approved Rs. 344.939 million deficit budget for the fiscal year 2011-12. The budget was approved in the Finance and Planning Committee meeting at Abbasia Campus chaired by the Vice Chancellor Prof. Dr. Muhammad Mukhtar, other committee members included representative of Government of Punjab Mr. Iftikhar-ud-Din, representative of Higher Education Department Lahore Mr. Nayyar Mustafa, Chairman Hall Council Prof. Dr. Rao Muhammad Afzal Khan, Principal University College of Conventional and Alternative Medicine Dr. Naveed Akhtar, Member Syndicate Mr. Riaz Hussain Sindher, and Treasurer Mr. Muhammad Asim Khan. The committee has estimated Rs. 1690.512 million expenditure while Rs.1345.573 million has been as marked as estimated income from various sources. The university expects Rs.595.291 million grant from the Higher Education Commission of Pakistan and the Punjab Government. Total development budget has been estimated as Rs. 441.085 million which includes construction of University College of Agriculture and Environmental Sciences and buildings of Bahawalnagar and Rahim Yar Khan campuses. The budget has been formulated keeping in view limited funds expected from the HEC and the Punjab Government. Budget deficit will be met through good financial management, austerity measures and grants received from the federal and provincial governments. Finally, the budget will be presented and approved by the University Syndicate. The Finance and Planning Committee appreciated financial measures taken by the university during the last fiscal year especially payment of delayed out standings of Rs. 120 million. The committee hoped that the HEC and Govt. of the Punjab will provide required funds this year to encourage research and development at the IUB. |
