Karachi: The Board of Governors of the Sir Syed University of Engineering and Technology (SSUET) has approved a development-oriented surplus budget for the financial year 2009-2010 at a meeting held on Saturday under the Chairmanship of Prof. Dr Saiyid Nazir Ahmed, Vice-Chancellor, SSUET, and Chairman of the Board.
According to a Press statement issued on Sunday, the total income is estimated to the generated at Rs598million while the expenditure is estimated at Rs596.4million leaving a surplus of Rs1.6 million during forthcoming financial year.
Similarly the revised budget for the receding financial year (2008-2009), also showing a surplus of Rs39.2million, was also approved. The revised actual income is Rs591.4million while the actual expenditure is Rs552.2million.
Pointing out some of the salient features of the budget for the next financial year, the statement adds that Rs33.9million had been provided for purchasing additional state-of-the-art laboratory equipment for all the faculties while Rs3million had been provided for purchasing new academic books for the library (that currently has 60,000 volumes).
A provision of Rs5 million has been made for the university's plan to hire foreign specialist Teaching staff while the university will spend Rs1.5 million on its research project programme. An amount of Rs6million has been provided for further development of an ultra-modern I.T. Park at the newly acquired 200 acres of land in Education City, it added.
The university will award scholarships to deserving students for which a provision of Rs36million has been made in next year's budget. Moreover, it has granted scholarships to 2610 students during the outgoing financial year, i.e. 2008-2009, as against 1502 during 2007-2008.
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