RECORDER REPORT

MULTAN: The Bahauddin Zakariya University (BZU) has reduced its budget deficit from rupees 910 million last year to over Rs.235 million this year by adopting stringent measures for transparency and eliminating corruption after the appointment of new vice chancellor.

“The university management decided complete automation of finance system and the financial management is going to improve after the induction of new vision,” Prof Dr Muhammad Umer Farooq, the BZU treasure said presenting the university budget 2016-17 here on Sunday.

He said the university had created more seats of admission besides reducing tuition and hostel fees of Institute of Social Sciences also known as Distance Learning.

The BZU vice chancellor Prof Dr Tahir Amin introduced a vision to overcome budget deficit and created an endowment fund to combat with the current deficit with the initial seed money investment of Rs.200 million at best possible marks up rates. The 10 percent amount from evening classes earning would go to the endowment fund and the university syndicate approved it. The USAID, British Council and JICA would be requested to invest in the endowment fund for the welfare of institution.

“The university has planned opening more windows of funds generation and the Higher Education Commission would be requested for more funds besides approaching chambers of commerce and industry and the university alumni living abroad,” said Umer Farooq.

He further said the university syndicate had formed committee on receiving complaints on Distance Learning fees schedule. He said the syndicate made the morning fee schedule equal to evening bringing reduction to 2.5% in fees. The hostel fee was reduced to Rs.12,000.