LAHORE - Vice-Chancellor Punjab University Prof Dr Mujahid Kamran has said that in view of the ongoing financial crunch at global and national levels, it is imperative to objectively study the implications of various budgetary cuts imposed on the education sector, particularly the very serious reduction in HEC budget allocations for public sector universities. Addressing a meeting of all the PU Deans, the VC said the PU current financial year budget amounts to Rs3.63 billion, out of which Rs1.10 billion are provided by the HEC. He said in view of the Rs7 billion cut in the HEC budget, from the last year Rs22 billion to Rs15 billion in the next year budget, the HEC will not be in a position to extend funding as per the previous years. Resultantly, the university will be unable to pay even salaries to the existing teaching faculty and administrative functionaries. As such, the varsity is left with no option but to generate its own resources, for which the Vice-Chancellor sought opinion of all the deans to resolve the acute funding problem. Various proposals were made by the participants including commercial use of varsity land to generate desperately required additional revenue. It was also suggested that the Vice-Chancellors Committee might hold a meeting with the Federal Finance Minister and the Prime Minister to apprise them about the severe financial hardships from which the PU is going to suffer as a result of reduction in HEC funding. convocation The 41st annual convocation of College of Home Economics, Gulberg will be held on Tuesday June 15 at 6 p.m. Punjab Chief Minister Mian Shahbaz Sharif will be chief guest. Degrees, rolls of honour, prizes and certificate will be given to the graduating students.