GCU’s finance body recommends Rs 2.135b budget

Our correspondent

LAHORE : The Finance and Planning Committee of the Government College University (GCU) Lahore has recommended a budget of Rs 2.135 billion for the financial year 2021-2022.

The 29th meeting of the committee, chaired by Vice Chancellor Prof Dr Asghar Zaidi, appreciated the raise in scholarships to Rs. 105.552 million for the deserving students. Higher Education Department, Punjab Additional Secretary (Universities) Manzar Javed Ali, Finance Department Deputy Secretary M Arif Khan Niazi and GCU Dean Prof Dr Raiz Ahmad were also present. GCU Treasurer Abid Shahzad Aslam presented the agenda. The meeting was informed by the Vice Chancellor that the university has managed to convert the deficit into a surplus of rupees three million for the first time since 2013-14. The committee also reviewed and recommended amendments in financial, medical and affiliation rules of the university. The F&PC recommended the creation of new posts to make the new campus of the university operational, while increase in per lecture remuneration for the visiting faculty and thesis evaluation rates for external examiners was also approved. The committee acknowledged and appreciated efforts made by the Vice Chancellor and its financial team to streamlining the cash flow and drastic decrease in budget deficit.