Posts tagged ‘201112’

July 1, 2011

Board of Governors SSUET Rs 712m budget for 2011-12

SSUET approves Rs 712m budget for 2011-12
Karachi: The Board of Governors of Sir Syed University of Engineering and Technology (SSUET) passed Rs 712.30 million surplus budget for 2011-2012 at a meeting held under the chairmanship of Vice-Chancellor Prof Dr Saiyid Nazir Ahmed. The budget shows the income at Rs 714.84 million with Rs 627 million as current expenditure and Rs 84.90 million set aside for development thus making the budget surplus by Rs 2.54 million. According to the budget’s salient features, the highest amount of Rs 37.50 million has been allocated for purchasing additional equipments for all Faculties including newly established Telecom Faculty. Besides, Rs. 16 million have been earmarked for financial help to be provided out of profit on Endowment Fund, wile Rs. 12.30 million would be spent on construction of new academic block, Rs 8.80 million provided for development of New Campus/IT Park.

The budget shows an allocation of Rs 1.5 million for research projects, Rs 3.5 million for research by faculty, Rs 1.5 million for PhD Graduate Programme. During the new fiscal the University will spend Rs. 3 million on purchase of new books, research journals and equipment for library. The university allocated the same amount for award of scholarships to students as was kept in the year 2008 and afterwards. During 2010-11, the university had provided financial assistance to 28 employees and 473 students out of profit on endowment fund and the same was expected in 2011-12. According to the budget documents some 9,819 students have been awarded engineering degree from 1998 to 2011 while three Faculty members cleared PhD comprehensive exams and are pursuing research work. With an allocation of Rs 13.70 million for development fund, the accumulated Fund now stands at Rs 74.40 million. ppi

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