Financial crisis hits Peshawar University; seeks bailout package for payment of salaries, pensions.

PESHAWAR -- The University of Peshawar (UoP), one of the oldest and leading institutions of higher education in the country, is facing critical financial crisis having no funds to pay salaries to 2800 regular, over 500 contractual employees and 1540 pensioners on February 1.

Vice Chancellor UoP Dr M. Asif Khan has written a letter to Chief Minister Khyber Pakhtunkhwa Mehmood Khan on January 27 and requested for Rs 200 million bailout package to enable the varsity to pay forthcoming salary and pensions to its employees and pensioners, the spokesman of UoP confirmed.

The VC also requested the KP government to also approve grant of Rs 150 million for the university to meet its monthly operational expenditure, the letter available with this agency revealed.

According to it, VC informed that both Higher Education Commission and provincial government had been continuously informed about the critical financial position of the varsity from last several months and grant of bailout package but to no use.

The main reason of the shortfall was told insufficient increase in grant over the period of last 12 years it said adding that the grant was not correspondingly increased over the period to match the burgeoning expenditure on salary and pension as announce by the government meanwhile.

It said that from financial year 2006-07 to 2018-19 the salaries' amount increased 270 percent with Rs 470 million in...

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