The separate senate meetings of three more public sector universities of Khyber Pakhtunkhwa chaired by the Governor/ Chancellor Shah Farman Monday approved the budget for the fiscal year 2021-22.
So far the senate meetings have given approval to 22 out of a total 32 public sector universities of the province.
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 on Monday held here at Governor’s House.
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.
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 Governor/Chancellor Shah Farman, 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.
It is to mention here that the Governor had taken serious notice of the presentation of budget of respective Financial Years by the Public Sector Universities concerned to their Senate after the relevant financial year and issued directives for submitting the budgets of the Universities to their Senate in the month of June 2021.
The Governor had also expressed resolve to bring out the higher educational institutions from financial crisis and directed all varsities to establish endowment and pension funds along with well-framed policies for their financial sustainability.
Shah Farman had time and again expressed the desire to see all the universities self-sustaining and more strengthened in financial and administrative affairs and reiterated that preparation and approval of budget on time would result in accurate expenditure and could solve the financial issues of the Universities.
