Despite financial crunch, SSUET sets aside Rs40m for scholarships

Engineering university is facing a deficit of over Rs35 million.

KARACHI:

Despite the fact that Sir Syed University of Engineering and Technology (SSUET) expenses outstrip its income, the university is committed to supporting its students with a handsome amount of Rs40 million set aside for scholarships.

The deficit budget for the next fiscal year was passed on Sunday by the university’s board of governors with vice-chancellor Prof. Dr Jawaid H Rizvi heading the meeting. The total outlay of the budget was Rs897.07 million, a 13 per cent growth over the last year’s budget, with a deficit of Rs35.56 million.

According to the budget documents, the university’s income is expected to be Rs861.5 million with tuition fee, other income, profit earned on endowment fund and donations expected to contribute Rs752.15 million, Rs77.35, Rs31 million and Rs1 million respectively.

On the expenses front, the university has earmarked Rs13.2 million for research projects, Rs5 million as financial incentive for the faculty to undertake research, Rs40 million for scholarships while Rs26.9 million have been set aside to purchase lab equipments. A large amount of money has also been allocated to improve the PhD programme of the university and hire foreign faculty members.

The university also plans to add a new academic block at a cost of Rs20.5 million while other development work at the university’s new campus and the IT Park would cost the university another Rs8.5 million. The endowment fund, used to provide financial assistance to both students and employees, will also get a further Rs7.8 million besides an expenditure of Rs3 million on books, research journals and equipments for the library.

Noted scientist Dr Abdul Qadeer Khan, Prof. Dr MD Shami, Cmdr (retired) Saleem Siddiqi, Engr Yusuf Siddiqi, Justice Fazl-e-Ghani Khan, SSUET registrar Shah Mahmood H Syed and the finance director attended the meeting.

Published in The Express Tribune, June 25^th, 2013.