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Funds for universities projects close to completion

Posted on: Thu September 23, 2010

ISLAMABAD  : The Cabinet on Wednesday partially conceded to the demands of vice chancellors of public sector universities and decided to fund 90 percent completed projects along with provision of scholarship only to those students who are presently studying abroad.

Information Minister Qamar Zaman Kaira told media after the meeting at a press briefing along with Minister for Education Sardar Aseff Ahmed and Begum Shahnaz Wazir Ali that the Cabinet meeting presided over by Prime Minister Syed Yousuf Raza Gilani discussed in detail the issue of funds release to the Higher Education Commission (HEC).

The Prime Minister, he said, directed the Finance Ministry to release funds to the projects whose 90 percent work has been completed. The minister said the first term scholarship fee would be paid to students in a couple of days. About the financial problems of the universities, the prime minister directed the Finance Ministry to immediately release funds for students currently studying abroad on scholarships.

Despite financial constraints, the Cabinet also decided that the federal government will provide funds for the development projects of universities which are close to completion besides supporting them by giving 50 percent salary increase to their employees as was announced by the federal government for the public sector employees. Kaira stated that the Cabinet also constituted a committee that would recommend to the government for financial support on case to case basis for 50 percent increase in salaries of university employees due to scarcity of resources.

The minister said that some universities had the resources and increased the salaries after the budget but those who had not increased salaries of their employees due to financial constraints would be taken care of by the committee. The minister said the country had sufficient stock of wheat over and above the requirement and would be carried over for the next year.

 We have wheat stock of over 10 million tons against the total need and there is no issue of demand-supply, Kaira said, adding that the remaining 2 million tons wheat stock would be a carryover stock for next year. The rice stock of over 6 million tons is much more than the need of 2.5 million tons, he said, adding that people do not need to be panic about food issue.

 We also have more than required stock of pulses. . He said the meeting gave approval to signing of an MoU for strengthening trade between Pakistan and Australia and considered Corporate Rehabilitation Bill 2010. The Cabinet constituted a committee headed by Finance Minister to further look into the bill and resubmit it to the Cabinet for approval.

The meeting also gave approval to negotiations in principle draft MoUs for defence co-operation with Bulgaria and Germany. The meeting reviewed the performance of various ministries and division and directed them to improve their performance. The meeting also reviewed the implementation status of its earlier decisions.

Courtesy : Business Recorder