The fiscal year 1998-99 of Karachi University is expected to close with a record deficit of Rs 72.654 million, while the previous highest deficit of the university was around Rs 29.00 million, insiders informed.

The revised budget estimates for the year 1998-99, original budget estimates 1999-2000, the Annual Development Programme 1998-99 and 1999-2000 along with the brief note of the actual budget estimates for the year 1997-98, would be put in the 13th meeting of the Karachi University Senate on Saturday at the campus. The Chancellor, Sindh Governor Air Marshal (retd) Azim Daudpota, would also attend the meeting.

The government approved an amount of only Rs 170.466 million for the year 1998-99 against the university’s demand for Rs 259.500 million with 34.3 per cent cut, which was even less than the grant of the last year which amounted to Rs 182.122 million, sources said.

Some insiders, however, fear as to how the university would pay salaries for the last five months with such a huge deficit as normally the UGC sent the grant with a delay of 4-5 months.

Income from own sources of the university, in the proposed budget of 1998-99, estimated at Rs 135.080 million, was revised to Rs 140.750 million through enhancement of fee structure.

Similarly, the actual budget estimates of 1997-98, which were also on the agenda of the senate, showed a deficit of Rs 4.867 million, the net income negligible Rs 6.13 million, while the expenses increased by Rs 20.949 million.

— News selected by Saeed Mohiuddin, Reference Library.Filed by our correspondent,The News