Financial crunch of Peshawar University
The failure of Peshawar University administration to release full salaries to its around 2800 current staff including faculty members and pension to 1500 retired employees for the month of January has sent a wave of grave concern to all and sundry affiliated with the oldest university in the province.
For the last many years, the kitty of Peshawar University has been suffering from shortage of money to run its affairs smoothly but the government had announced a raise in salaries and pensions for the institution in the budget for 2018-19, however, didn’t increase its annual grant.
Rather asked the Peshawar University administration to generate money from its own resources which was mockery as universities are not supposed to get involved in business to earn money for running their huge engines of spreading knowledge and scholarship.
The annual expenses of Peshawar University have touched Rs403.4 million, while its deficit stands at Rs203.597 million which means the situation is fast approaching to the point of no return. According to Peshawar University, the increase in its annual grant went up to 113% during the last over a decade but the increase in the salaries and pensions of the current and retired employees also got an enormous rise up to the tune of 270% and pensions 979%, respectively. This incompatibility trend also has caused an impasse for the varsity to run its affairs.
There is a plethora of reasons behind the financial crises of Peshawar University, the crux of the long standing issue is that the monetary crunch has never given a due attention and recently ended up with, the administration’s failure to send their employees back homes with pays and pensions making it very hard for them to readjust their expenditures.
Experts believe it would cast deep repercussions on the overall academic performance of the University as the authorities concerned seemed to give a serious thought to the issue with multiple negative results.
A peep into the deep financial crises of the oldest seat of learning is need of the hour and a multilayered steering committee, commission or forum should be formed on war footing to save not only an educational institution also termed as the mother of universities in Khyber Pakhtunkhwa but also to safeguard the future of thousands of students from being ruined. Sooner the government takes a right step, the earlier will be its plausible solution.