FAISALABAD

The University of Agriculture Faisalabad's Finance and Planning Committee on Monday approved the proposed budget for the fiscal year 2013-14, amounting to Rs3.197 billion. The committee met under the chairmanship of Vice Chancellor Dr Iqrar Ahmad and was informed about the financial position of the university. Apprising the committee, the VC said the varsity was facing budget deficit owing to non-payment of enhanced salaries by the federal government and skyrocketing price of energy and fuel.

Giving details of the proposed budget, the UAF treasurer said that out of Rs3,197.528 million budget, a sum of Rs2,701.332 million would be placed under non-development budget which included Rs627.332 budget deficit. The committee also gave nod to Rs233.976 and Rs262.220 allocations under federal grant and development grant by government of the Punjab respectively for the year under discussion. The committee appreciated the prudent leadership of the Vice Chancellor for initiating austerity measures and maintaining financial discipline in the expenditures of the varsity during the last five years.