The Finance and Planning Committee of the Islamia University of Bahawalpur has approved budget recommendations worth Rs. 7204.425 million for the financial year 2021-22.
The meeting of the committee was held at Baghdad-ul-Jadeed Campus under the chairmanship of Vice Chancellor Prof Dr Athar Mahboob. The budget focuses on the construction and development of the university, promotion of research activities and welfare of students.
A record amount of Rs. 3.5 billion has been allocated for development expenditure. Scholarships for male and female students have been increased from Rs 383 million to Rs 470 million, while for research activities the amount has been increased from Rs 100 million to Rs 120 million. For the first time, Student Welfare Funds have been set up to help deserving students through a special committee which will provide scholarships to needy students. Similarly, a student insurance policy has been introduced for students in case of emergencies.
Vice Chancellor Dr Athar Mahboob termed the budget for the next financial year as a historic budget of the university which will take the university on a new path of innovation and development. Prof. Dr. Abu Bakar, treasurer, said in the briefing that last year, due to better fiscal management, the budget deficit was brought under control and turned into a surplus budget.
This year, a special budget planning and investment section has been set up in the finance branch, which will bring transparency and innovation in financial matters with the help of the Directorate of IT, which will further reduce costs. Committee members included Prof. Dr. Ghulam Mustafa Chairman Mathematics Department, Prof. Dr. Raheela Khalid Qureshi, Chairperson Arabic Department, Manzar Javed Ali, Additional Secretary Universities, Higher Education Department Punjab, Muhammad Shehzad Akhtar, Director Local Fund Audit, Representative of Ministry of Finance Punjab and Prof. Dr. Abu Bakar, treasurer, Islamia University of Bahawalpur.