Peshawar - The Khyber Pakhtunkhwa government has announced a bailout package worth Rs1.985 billion for public sector universities in the province.
KP Finance Minister Taimur Jhagra tweeted on Thursday that the universities had demanded the provincial government to release Rs5.259 billion to them owing to financial crisis they were facing.
Jhagra said the provincial government reviewed the demand of each university.
The University of Peshawar and Abdul Wali Khan University Mardan have been committed an additional amount of Rs50 million each as performance incentive.
The University of Peshawar demanded Rs2124 million; however, the government has decided to give the institution Rs400 million and an additional Rs50 million for good performance. The university had been facing financial crisis for years; however, it has improved financial position under the incumbent Vice-Chancellor Prof Dr Muhammad Idrees.
Similarly, Abdul Wali Khan University Mardan had sought a bailout package of Rs510 million, against which Rs290 million were committed for it by the government, in addition to Rs50 million as performance incentive. Abdul Wali Khan University is considered to be a newly established university having enough finances to cater to its needs.
Also, the government has committed Rs373 million for University of Engineering and Technology (UET), Peshawar, Rs200 million for Islamia College University, Rs422 million for Agriculture University, Peshawar, and Rs200 million for Gomal University, Dera Ismail Khan.
KP Finance Minister Taimur Jhagra tweeted on Thursday that the universities had demanded the provincial government to release Rs5.259 billion to them owing to financial crisis they were facing.
Jhagra said the provincial government reviewed the demand of each university.
The University of Peshawar and Abdul Wali Khan University Mardan have been committed an additional amount of Rs50 million each as performance incentive.
The University of Peshawar demanded Rs2124 million; however, the government has decided to give the institution Rs400 million and an additional Rs50 million for good performance. The university had been facing financial crisis for years; however, it has improved financial position under the incumbent Vice-Chancellor Prof Dr Muhammad Idrees.
Similarly, Abdul Wali Khan University Mardan had sought a bailout package of Rs510 million, against which Rs290 million were committed for it by the government, in addition to Rs50 million as performance incentive. Abdul Wali Khan University is considered to be a newly established university having enough finances to cater to its needs.
Also, the government has committed Rs373 million for University of Engineering and Technology (UET), Peshawar, Rs200 million for Islamia College University, Rs422 million for Agriculture University, Peshawar, and Rs200 million for Gomal University, Dera Ismail Khan.