Three KP Universities Go Bankrupt Due to Financial Crisis

Three leading universities in Khyber Pakhtunkhwa (KP) have gone bankrupt and don’t have funds to pay the faculty and staff.

The University of Peshawar, Khyber Pakhtunkhwa Agriculture University and Gomal University Dera Ismail Khan are the universities that are reeling from the financial crisis in the education sector.

Due to a lack of funds, the Higher Education Commission (HEC) has not released any grants for the varsities. The federal government has not released any supplementary funds for them either.

Last month, these universities took a loan from local banks to pay their employees. Now, with Eid just around the corner, the administration of these varsities is in a fix on how to pay salaries and pensions.

“The universities don’t have any means to pay back the loans taken from different quarters,” said a reliable source.

The varsities requested the government and HEC for a bailout, but the request was turned down.

The Vice-Chancellor of the Agriculture University Prof Dr. Jehan Bakht said that even after taking loans, they were only able to pay 50 percent salaries to the employees.

Resultantly, the unpaid staff started to protest, forcing the university administration to take a further loan from HEC.

Speaking about the reason behind this financial constraint, Dr. Jehan Bakht said that unnecessary hiring under previous governments is the key reason behind the financial crunch.

We have over 500 surplus staff in different cadres. Unnecessary allowances and double payments to the employees is a serious issue and needs to be fixed to settle things down.

He highlighted that several professors were retiring this year, and each professor is to be given Rs. 10 million at the time of his retirement under commutation, gratuity, and other payments.

He urged the federal government to step up and increase the financial grant of the varsities.

“If the financial support is not extended to the university at the earliest, it would be unable to function,” he added.

Via: The News

  • بهت تکلیفده اور افسوس کی خبر !
    هر ناکامی کو پچهلی حکومت پر رکه کر جان بچانا کافی نهیی. پچهلی حکومت تو تهی هی بیمان لیکن سب چیزیی صحیح چل رهیی تهیی. ایانداری اس قوم کو راس هی نهیی آتی سب کام غلط هو گیی

    • ڈاکٹر صاحب پچھلی حکومت بھی ان ہی کی تھی کےپی میں۔

  • The is afraid to take action against the 500 contract employees. Except few more VCs are just looking after their Chair

  • Yes thts trou before university pay eid advance for qurbany but in the history of university this year thy not pay us eid advance for qurbany.

  • Jab hukumran corrupt ty to sub Kuch teek chal raha ta leken jab sy ye fareshty govt ma aye hy to her cheez ka bera gharq huwa ha…to pir corrupted log tek ty na hamare leye na k ye fareshty…!

  • never in history of pakistan education funds had been haulted. This is new pakistan with all sanctions and cuts on education and medical bugets. literally bera gharq kerdia mulk ka.

  • If the university have no funds why they are constructing new big house for VC adcent to dobi gaurd which constructing area is more than three(3) karnals for this they have the fund and the retirement age is also extended because the bill is pass In kpk assembly and here they are folling us

  • Don’t know about other universities but as a student of Gomal University, the main culprit behind University bankruptcy is VC Gomal University, the most corrupt and incompetent person on the planet.
    He has completed his tenure of three years but he got extension using his political influence. Now this the point which clearly show that why he is taking extension while University is facing bankruptcy

  • lol! in KP they’re blaming it on “Previous Governments” TOO????? tahahhahahahahahahahahahahahhahahahaha

  • Very sad state of affairs, unheard of in the history of KPK. The education seems to be on auto pilot on corruption, frauds, and politicised. On this occasion of Eid-ul-Azha when the greatest sacrifice on earth happened on slaughter. The day of Allah blessings for truth, honor of land, rule, and ruled. Humble suggestion is to please clean the university with all politics, favourism, optimise everything including surplus staff. Investigation be carried by the honorable Supreme Court orders be followed.

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