PESHAWAR, July 14: Vice-chancellors of different public sector universities in the Frontier province met here on Monday to discuss the financial crisis faced by the varsities.

The meeting which was held here at the University of Engineering and Technology, Peshawar, discussed the financial crisis created due to the slashing of funds released in the fourth quarter of the year 2007-08 to all the varsities by a two-third. The major chunk of the recurring expenses, which is about 70 per cent, would go to payment of salaries, a press release issued here said.

The meeting was attended by vice-chancellors of the University of Peshawar, NWFP Agricultural University, Hazara University Mansehra, Gomal University D.I.Khan, Kohat University, Bannu University of Science and Technology, Malakand University, Frontier Woman University, Khyber Medical University, and IM Sciences and Islamia College University.

The meeting noted that the adverse effects of inflation, a 20 per cent raise in pension and salaries and increase in utilities’ bills had struck the universities hard. Moreover, the government varsities were still bearing the operational cost of various projects which had already been completed and their PC-IV submitted to the government, the press release said.