KU 21 Senate Meeting Approves Annual Actual Statement Of Accounts

The 21st Senate meeting of the University of Karachi approved the annual actual statements of accounts for the financial year 2017-18, 2018-19, 2019-20, 2020-21, 2021-22 during the meeting held at the Chinese Teachers Memorial Auditorium on Wednesday

KARACHI, (UrduPoint / Pakistan Point News - 21st Feb, 2024) The 21st Senate meeting of the University of Karachi approved the annual actual statements of accounts for the financial year 2017-18, 2018-19, 2019-20, 2020-21, 2021-22 during the meeting held at the Chinese Teachers Memorial Auditorium on Wednesday.

KU Vice Chancellor Dr. Khalid Mahmood Iraqi chaired the Senate meeting while the Director of Finance Tariq Kaleem presented the annual statement for FY 2017-18, 2018-19, 2019-20, 2020-21, and 2021-22 and the revised budget for FY 2018-19, 2019-20, 2020-21. 2021-22 and 2022-23, which the members unanimously approved.

According to the details, in 2017-18, a grant of Rs 2031.894 million was received from the Federal government, a grant of Rs 469.610 million was received from the provincial government and the KU’s own income was Rs 2004.106 million.

Rs1140.359 million was spent on salaries of faculty members, Rs 488.725 million on salaries of administrative staff, Rs 407.271 million on allied staff salaries, Rs 30.120 million on tenure track and Rs 236.547 million on other establishment charges.

Meanwhile, Rs 422.199 million spent for utilities, rent of residential building cost Rs189.662 million, Rs104.183 million for conducting examinations, Rs 248.861 million on honorarium of part-time teachers, Rs 727.150 million to pay dues and pension to retired employees, Rs 42.378 million as fuel expenditures, Rs18.324 million to buy chemicals/glassware, Rs 8.253 million on research related activities, Rs12.956 million to purchase of durable goods, Rs14.253 million as library expenses and Rs112.963 million as other expenses.

Tariq Kaleem shared that in 2018-19, a grant of Rs 2051.397 million was received from the federal government, a grant of Rs 556.200 million was received from the provincial government and the KU’s own income was Rs 2305.854 million.

Rs1222.947 million was spent on salaries of faculty members, Rs 647.945 million on salaries of administrative staff, Rs 505.454 million as allied staff salaries, Rs 23.853 million on tenure track and Rs 260.242 million on other establishment charges.

Meanwhile, Rs 378.759 million spent for utilities, rent of residential building cost Rs 318.127 million, Rs149.029 million for conducting examinations, Rs 255.461 million on remuneration of part-time teachers, Rs 945.877 million to pay dues and pension to retired employees, Rs 36.011 million as fuel expenditures, Rs17.924 million to buy chemicals/glassware, Rs 58.926 million on research related activities, Rs12.148 million to purchase of durable goods, Rs 2.173 million as library expenses and Rs130.925 million as other expenses.

He mentioned that in 2019-20, a grant of Rs 2033.253 million was received from the federal government, a grant of Rs 544.090 million was received from the provincial government and the KU’s own income was Rs 2354.481 million whereas Rs1385.440 million was spent on salaries of faculty members, Rs 745.016 million on salaries of administrative staff, Rs 532.154 million as allied staff salaries, Rs17.763 million on tenure track and Rs181.020 million on other establishment charges.

Meanwhile, Rs 391.721 million spent for utilities, rent of residential building cost Rs 324.914 million, Rs116.430 million for conducting examinations, Rs198.

954 million on remuneration of part-time teachers, Rs1059.471 million to pay dues and pension to retired employees, Rs 24.068 million as fuel expenditures, Rs11.416 million to buy chemicals/glassware, Rs 56.926 million on research related activities, Rs 25.549 million to purchase of durable goods, Rs 0.370 million as library expenses and Rs133.873 million as other expenses.

According to him, in 2020-21, a grant of Rs 2136.054 million was received from the federal government, a grant of Rs 637.335 million was received from the provincial government and the KU’s own income was Rs 2782.365 million whereas Rs1409.080 million was spent on salaries of faculty members, Rs 770.371 million on salaries of administrative staff, Rs 536.578 million as allied staff salaries, Rs18.447 million on tenure track and Rs 375.388 million on other establishment charges.

Meanwhile, Rs 351.592 million was spent on utilities, rent of residential building cost Rs 336.556 million, Rs100.280 million for conducting examinations, Rs 274.998 million on remuneration of part-time teachers, Rs1115.409 million to pay dues and pension to retired employees, Rs15.182 million as fuel expenditures, Rs 20.00 million to buy chemicals/glassware, Rs 36.435 million on research related activities, Rs 40.776 million to purchase of durable goods, Rs 0.946 million as library expenses and Rs180.337 million as other expenses.

The DF Tariq Kaleem informed the Senate meeting that in 2021-22, a grant of Rs1989.471 million was received from the federal government, a grant of Rs1270.250 million was received from the provincial government and the KU’s own income was Rs 3454.842 million.

Rs1409.557 million was spent on salaries of faculty members, Rs 912.587 million on salaries of administrative staff, Rs 638.810 million as allied staff salaries, Rs14.029 million on tenure track and Rs 400.332 million on other establishment charges.

Meanwhile, Rs 500.351 million spent for utilities, rent of residential building cost Rs 487.360 million, Rs103.363 million for conducting examinations, Rs 318.463 million on remuneration of part-time teachers, Rs1393.356 million to pay dues and pension to retired employees, Rs 24.758 million as fuel expenditures, Rs 23.408 million to buy chemicals/glassware, Rs 41.566 million on research related activities, Rs 41.566 million to purchase of durable goods, Rs 0.397 million as library expenses and Rs 233.990 million as other expenses.

Earlier, the KU VC Dr Khalid Mahmood Iraqi said that despite the financial difficulties, the KU’s ranking has increased and so the numbers of reputable research journals.

The Senate meeting formed a four-member committee to recommend the model statutes for the centers and institutes of the University of Karachi. It would be headed by Dr Faiyaz H. M. Vaid. Dr Haris Shoaib, Dr Noreen Mujahid and (retd) Justice Hasan Feroz have been nominated as its members.

Meanwhile, Dr Solaha Rehman was elected as a member of the Senate on Finance and Planning Committee for three years after securing 59 votes while Dr Rohi Ahmed got 56 votes during the election held for this position.

The Senate meeting also confirmed the proceedings of the 20th Senate meeting held on March 26, 2019.