KARACHI: The universities across Sindh are facing dire financial crisis with a deficit touching Rs 6 billion, ARY News reported on Friday.
Sources in the Education Department told that NED University topped in the varsities facing financial crisis with a mark of Rs 1.7 billion.
NED University has borrowed an amount by depositing pensions and GP funds of employees into bank accounts to run monetary affairs of the varsity.
General Secretary teachers’ association NED University Dr. Muhammad Usman told ARY News acquiring amount from banks by mortgaging funds of employees without their permission was not allowed. He added that the varsity violated Supreme Court directives by mortgaging funds of employees.
Teachers’ representatives are of the view that NED University did not even have amount to buy stationery items and varsity administration had asked the teachers to buy such items on their own. In the current circumstances, university will face monetary crisis up to Rs 481 million.