LAHORE: The finance and planning committee has recommended a budget of Rs 2.135 billion for the Government College University Lahore for the financial year 2021-22. The 29th meeting of committee was chaired by Vice Chancellor Prof Dr Asghar Zaidi which 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 Muhammad 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 deficit into 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 Finance and Planning Committee (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 flows and drastic decrease in budget deficit. The recommendation of F&P would be placed before the Syndicate for approval.
Copyright Business Recorder, 2021