Karachi University Faces Risk of Bankruptcy
Meanwhile, the University of Karachi's finance director has cautioned that the institution could face bankruptcy and struggle to pay salaries after a decision to grant employees a housing allowance.
Meanwhile, the University of Karachi's finance director has cautioned that the institution could face bankruptcy and struggle to pay salaries after a decision to grant employees a housing allowance.
Article outline
- What happened
- Why it matters
- The details
- The bottom line
Key points
- Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
- Add as a preferredSource on Google Follow on Google News Join WhatsApp.
- As the report notes, tufail Jokhio approved the allowance despite the Sindh government's refusal to provide a grant for it.
- Jokhio nevertheless issued a notification approving the allowance and subsequently departed on an overseas visit, the report remarked.
- The finance director's warning reservations the potential impact of the further expense; the report does not establish that the university has already become bankrupt.
Acting Vice Chancellor Dr. As the report notes, tufail Jokhio approved the allowance despite the Sindh government's refusal to provide a grant for it. Approval was additionally reportedly not obtained from the university's syndicate or Finance and Planning Committee. Karachi University Replaces Temporary VC With Another Temporary VC.
Notably, the university administration cited a monthly expense of Rs. 50 million and an annual cost of approximately Rs540 million. These figures do not align, leaving the exact projected expenditure unclear.
In a written objection, the finance director remarked the university lacked sufficient resources to bear the further recurring expense. He cautioned that continuing on this course could leave the institution unable to meet its salary obligations.
Dr. Jokhio nevertheless issued a notification approving the allowance and subsequently departed on an overseas visit, the report remarked. Karachi's University Road Project Nears Completion.
Notably, the Sindh administration had already declined to fund the allowance. Former Vice Chancellor Dr. Khalid Iraqi had additionally refused to approve it as funds were unavailable.
Meanwhile, the finance director's warning reservations the potential impact of the further expense; the report does not establish that the university has already become bankrupt. Visit EduNation to find scholarships from worldwide. Stay Connected with ProPakistani.
Obtain the latest education news, admissions updates, and scholarship alerts wherever you prefer. Follow on Google Discover.
Taken together, the developments around karachi University Faces Risk of Bankruptcy point to a situation that is still moving, and the coming days should bring more clarity.
