Financial crisis: NED passes deficit budget for a 2013-14

KARACHI:

The NED University of Engineering and Technology passed a deficit budget for the fiscal year 2013-14 on Friday at its syndicate meeting chaired by the university vice chancellor, Dr Muhammad Afzal Haque.

According to details, the total outlay of the budget is Rs1.75 billion with a deficit of Rs304 million. The university has also reportedly sought a grant to the tune of Rs1.02 billion from the Higher Education Commission.

The university expects to generate around Rs430 million on its own, which is only a quarter of the total budget.

Published in The Express Tribune, June 22^nd, 2013.