UOS Syndicate approves Rs4.5bn budget for financial year 2018-19
The Syndicate of the University of Sargodha has approved the university’s budget worth Rs4.5 billion for the financial year 2018-19. The approval was granted during the third Syndicate meeting of the current year held with UOS Vice Chancellor Dr Ishtiaq Ahmad in the chair.
The Vice Chancellor briefed the syndicate members about the budget and expressed satisfaction over the financial health of the university.
Out of the total budget outlay, Rs847 millions will be spent on developmental projects while Rs3.6 billion was allocated for recurring expenditures. An amount of Rs30 millions has been allocated in the budget for internship programs which has especially been designed for -fresh graduates of the university.
The body has decided to announce 100 full-time and 50 part-time internships for the enrolled students for a period of six months. An amount of Rs20,000 will be paid as stipend per month to the full-time interns while part time interns will get Rs10,000 per month. Moreover, the body accorded Rs200 millions for establishment of the university management information system in which Rs27 millions will be funded by the Higher Education Commission of Pakistan. The remaining Rs173 millions will be generated from the university’s own sources.
In addition, the meeting approved 10 percent raise in salaries of the university employees in line with the federal and provincial budgets. The body also recommended adoption of Punjab government rules and regulations for pension and salary along with the death grant for the varsity employees who die during service. It also approved adoption of standard pay package allowed by the government during the hiring under Public Sector Development Programme (PSDP).
According to other features of the budget, needy and deserving students will also be provided with free education along with other facilities while students taking admission on sports basis will be provided with free education. The university will continue waive tuition fee of Hafiz-e-Quran. For the purpose, the Syndicate has approved Rs8 million for the year 2018-19. The HEC is granting total amount of Rs1014.632 million while Rs74.959 million is funded in terms of HEC need-base scholarship.
Besides, the university has allocated research grant worth Rs50 millions to encourage research activities while Rs0.1 million has been kept for the best researcher award. In order to facilitate the faculty, the university is providing funds of Rs8 million in terms of research incentives, prizes and performance etc.
The meeting approved Rs65m for the purchase of land for an approach road to the engineering college of the university. It also approved Rs8 millions to further improve security of the campus. The amount will be spent on installation of biometric system, CCTV cameras and GPS system at the campus.