The public universities will face acute financial shortage this year if the government fails to support revised budgetary allocation on time, sources said.
"We will not be able to provide salaries and other benefits to our teachers and employees in the upcoming months of the current fiscal year (FY) 2011-12 if we don't get revised budgetary allocation," Vice chancellor of Bangladesh University of Engineering and Technology (BUET) Prof SM Nazrul Islam told the FE Sunday.
He said some Tk 0.13 billion is needed to cover the expenditures of the institution in the current fiscal year as they had to prepare a deficit because of fund constraint.
The director of accounts of Dhaka University (DU) Ashraf Uddin said that they had been providing salaries to the teachers and employees by borrowing money from other sources.
Mr Uddin informed the FE that DU had incurred a debt of Tk 0.34 billion in the last financial year, but the amount was not adjusted in the current year by the UGC.
The debt will increase this year due to budget deficit, he added.
"We demanded of the university grants commission to allow around Tk 2.94 billion for the annual budget of the university but it allocated Tk2.77 billion," he added.
It was learnt that the revised budget of the university will be submitted to the University Grants Commission (UGC) at the end of the current month.
The authorities of UGC had sent a proposal to the ministry of finance to allocate Tk 0.8 billion to help support the revised budget of 31 public universities of the country this year.
Muhammed Ibrahim Kabir, director of Finance and Accounts Division of the UGC, said the concerned authorities had been showing reluctance to approve the revised budgetary allocation citing shortage of fund.
The official said the commission will sit with finance minister AMA Muhith on January 16 to discuss the issue.
Source: thefinancialexpress-bd.com
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