University of Engineering and Technology (UET) Lahore syndicate meeting, presided over by the worthy UET Vice-Chancellor Prof Dr Syed Mansoor Sarwar approved Rs 4,482 billion budget with a deficit of Rs261,186 million for the year 2019-20.
Chairing the 3/2019, UET syndicate meeting, Vice-Chancellor Prof Dr Syed Mansoor Sarwar briefed regarding budget item-wise. The UET treasure further explained that a sum of Rs4,304.002 million has been allocated for development projects. It also included Rs3,804.002 million for the establishment of sub-campuses and Rs500.000 million for the strengthening of UET Lahore campus.
To facilitate students, UET approved funds of Rs100,964 million to its students in terms of scholarships, student affairs, career counselling and other activities. On the direction of vice chancellor for increasing UET’s international ranking and socio-economic impact research, the UET Syndicate increased research funding and allocated a huge amount of budget for research of young PhD and teachers.
The approved budget 2019-20 also included increases in salaries, pensions and publications. It was further explained that the deficit will be met by generating more income from its sources. In the meeting, many other academic matters were discussed, and the recommendation of the Academic Council and Selection Board were approved.