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LAHORE, March 24: After the passage of almost first three quarters of the financial year 2002-03, the Government College University syndicate is set to approve university’s Rs177.65 million budget, carrying a Rs9.23 million deficit, in its meeting scheduled for Tuesday.
GCU’s second syndicate meeting will also consider and approve the revised budget of Rs155.82 million for the year 2001-02. Originally, the university had estimated to spend Rs169.8 million, some Rs13.99 million more than the actuals.
The estimated outlay of the Rs177.65 million budget for the fiscal year 2002-03 is said to be Rs21.83 million greater than the Rs155.82 million revised budget for the last year.
INCOME: During the ongoing financial year, the university estimates to generate resources of Rs168.42 million. The income break-up shows that the university expects Rs58 million (34.44 per cent) as grants from the government and hopes to generate its own resources to the tune of Rs110.42 (65.46 per cent).
According to the break-up of grants, the GCU expects a Rs39.16 million as grant-in-aid, Rs12.67 million as grant-in-aid for the pay revision 2001, Rs2.75 million for maintenance and repair, Rs2.27 million for the conversion of the Government College into a university and Rs1.15 million as the Higher Education Commission grant for Dr Salam Chair.
As far as university’s own resources are concerned, it has an opening balance of Rs2.34 million and expects revenue receipts of Rs65.4 million and income from self-supporting departments to the tune of Rs42.68 million.
EXPENDITURE: The GCU has allocated Rs85.92 million for establishment charges, Rs12.41 million for administrative charges, Rs11.3 million for purchase of durable goods and Rs32.99 million proposed expenditure on self-supporting departments.
The university has also proposed to spend Rs14.58 million on repair and maintenance works this year against the government grants of Rs2.75 million. The university had also received the same amount during 2001-02 but its engineering cell had spent Rs14.03 million to complete the repair and construction work.
The GCU has proposed an amount of Rs11.22 million for laboratory development and research projects besides Rs1.28 million for academic development by purchasing library books, journals and publications.
Though the university receives Rs1.15 million HEC grant for Dr Salam Chair, it estimates to spend Rs2.25 million during the ongoing financial year. The university also plans to spend Rs7 million to grant financial aid to the deserving students during 2002-03 against Rs5.6 million spent during the last financial year.
ENDOWMENT FUND: The syndicate will also consider to create a GCU Lahore Endowment Fund Trust under the GCU Lahore Ordinance, 2002, to take all steps necessary for effective and efficient operation of the university.
ADDITIONAL STAFF: The syndicate will also consider university’s request to create additional posts to cope with the increased work and responsibilities after the elevation of the college to university.
The university has said the posts of staff officer to VC, students counsellor (BPS-18), assistant curator (BPS-17) and a mason with helper on fixed emoluments or daily wages should be created. It has estimated extra annual expenditure of Rs439,000 and promised to meet it from its own resources.
AUDIT PARAS: The syndicate is also expected to discuss different audit paras on the Government College accounts for the period from July 1, 2000, to June 30, 2001.
STATUTE: The GCU syndicate is also expected to consider framing of a statute for appointment of visiting professors/teachers with higher qualification and experience in the country or from abroad on a higher salary package.
The syndicate will be required to recommend the draft statute for approval by the Chancellor/Punjab Governor.
It may be mentioned that the GCU Lahore Ordinance, 2002, does not have any provision for the appointment of visiting professors/teachers with higher qualification and experience in the country or from abroad on a higher salary package.
The university has taken a stance that there is a shortage of competent persons with higher qualification and experience in the country due to brain drain and attractive salary packages offered by various institutions either within the country or abroad.
NEW SELF-SUPPORTING PROGRAMMES: The syndicate is also expected to approve the introduction of diploma/MSc in banking and finance and MSc industrial chemistry programme (evening) on a self-supporting basis.
As far as the introduction of diploma/MSc in banking and finance is concerned, the economics department of the GCU has stated that the proposal was placed before the academic council and approved on Feb 6 this year. It said the two-year programme —- one year for diploma and another one year for those willing to continue for MSc —- had good job prospects in the market.
Similarly, GCU’s chemistry department has stated that the proposal to introduce MSc industrial chemistry was placed before the academic council and approved on Feb 6 this year. It said the two-year programme is meant to meet the requirements of the industry and research and development organizations of the country.
