LAHORE: University of Engineering and Technology (UET) Lahore’s syndicate has approved Rs. 5, 206.040 million budget with deficit of Rs. 639.537 million for the year 2021-22.
The approval was granted during the meeting of Syndicate presided over by the UET Vice Chancellor Prof. Dr. Syed Mansoor Sarwar on Wednesday. He gave item-wise briefing to the participants regarding budget.
The UET treasure further explained that a sum of Rs. 450 million was allocated for Development Projects. It includes Rs. 400 million for Innovation Centre and Innovation Park at UET Lahore sub campus and Rs. 50 million for strengthening of Computer Science/Engineering Departments at UET Lahore.
In order to facilitate the students, UET approved recommendations of Academic Council regarding amendments in undergraduate and postgraduate regulations related to admissions, fees, and migration. The Syndicate also approved to waive off recurring fee from PhD students from Entry 2021. In lieu of that, PhD students will be required to work for at least six hours per week. They will also be eligible for Teaching Fellowship with stipend if secure CGPA 3.5 out of 4.00.
The budget 2021-22 also includes increase in salaries, and pensions with 10% adhoc relief allowance and 25% Disparity Reduction Allowance for all scales from BPS-1 and onward. It was further explained that deficit will be met by generating more income from its own sources. In the meeting many other academic matters were discussed, and the recommendation of Academic Council and Selection Board were approved.