Rs 647.74 million GCU budget for 2007-08 approved

The GC University Syndicate in its 20th meeting held here on Thursday approved the budget of Rs 647.74 million for 2007-08. An amount of Rs 365.786 million has been made available for non-development and Rs 228.833 million for development projects during the year. The university has earmarked Rs 5 million for repair and maintenance purposes.
The Higher Education Commission (HEC) has sanctioned Rs 68.356 million whereas the Punjab government would provide Rs 160.356 million for the development projects of the university.
In addition, the provincial government has allocated Rs 580 million for the land acquisition to set up new campus. The university has also allocated Rs 6.75 million for academic development, Rs 6 million for research projects, and Rs 37 million for lab development projects. In order to provide the transport facilities to the university students, three new buses would be purchased from the budgetary allocation.
The syndicate also approved the revised budget estimates of the year 2006-07. The revised estimates for non-development budget was Rs 283.239 million and development budget was Rs 63.06 million. For the HEC-funded programs, revised estimates are Rs 50.926 million and Rs 5 million for the repair and maintenance purposes.
Addressing the meeting, GCU Vice Chancellor Professor Khalid Aftab has said that Rs 9.7 million has been allocated this year for the needy and the deserving students of the university. He said: "Although the fee at the GCU is quite affordable as compared to the fee charges of its contemporary institutions, the GCU will never let any student fall short of admission simply on account of financial problem."
He pledged to extend all possible financial support to the needy students to help them complete their studies and be supportive to their family and extend services to their society at large through the application of their knowledge and qualifications. He also said the GCU has managed apart from this sum, some other sources to provide stipend to the deserving students through generous old Ravians and certain other philanthropists.