SU Management Appeals For Bailout Package To Overcome Financial Constraints

HYDERABAD, (UrduPoint / Pakistan Point News - 24th Nov, 2020 ) :The management of University of Sindh (SU) Jamshoro has urged the Federal and Sindh governments to grant a comprehensive bailout package worth Rs 1500 million so that the university could be able to overcome the uncontrolled financial constraints.� The Vice Chancellor University of Sindh Prof. Dr. Muhammad Siddique Kalhoro during briefing to university officers, teachers and employees informed that the university had liabilities of Rs 710 millions up to September 15, 2020 and a huge chunk of income was being paid in respect of the payment of markup of loans borrowed from banks by previous management.�� After assuming the charge of the office on September 15, 2020, the Vice Chancellor informed that he asked the Director Finance to provide accounts details and the facts revealed that Rs 1.7 million was being paid in respect of markup on the loan of Rs 200 million.��� The previous management did not pay Rs 90 million up to October 2019 as outstanding dues of the retired varsity employees and now the amount has been piled up to Rs 150 million in this head, he informed that the payment of Rs 30 million remained pending in respect of the installment of leave encashment of employees while the university had the liability of Rs. 23 million in respect of outstanding dues of electricity up to September 2020.� The university management had to pay Rs 25 million in respect of travelling and daily allowances of the employees who performed duties during semester side examinations while the payment of Rs 20 million was also in pending in respect of outstanding dues of the companies which provided stationary for pre-entry test in 2019, the Vice Chancellor informed.

�� He further informed that the university management was also experiencing liabilities of Rs 90 millions which had to be paid in account of group insurance as no single penny was deposited in this account from October 2019 to October 2020 despite deduction from the monthly salaries of the employees.�� He further informed that Rs 15 million remained outstanding in respect to the payment of the staff who conducted pre-entry test in 2019 while Rs 15 millions were also utilized by the previous management on other heads granted by the Higher education Commission under Need Based Scholarship to varsity's students.� Similarly, he said that Rs 1.5 million are outstanding in respect to payment of contractors of the private transport, Rs 50 million in respect of medical expenses to employees and Rs. 3.4 million is payable in respect of services and repair of equipment.�� The Vice Chancellor also gave details of expenses of millions of rupees which were utilized by the previous university management against the actual heads including Rs 2.3 million for payment of staff deployed for M.Phil test, Rs 2.3 million in respect to payment of employees assigned to conduct annual examinations, Rs 1.8 million in respect of pension differences, rupees one million each in respect of purchase of books and payment of newspapers dues.� The previous management had also not deposited Rs 41 million which deducted from monthly salaries of employees from July to September 2020 in respect of development charges of housing scheme, the Vice Chancellor informed and added that at present only rupees two million are available in university accounts.

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