AIOU’s annual saving gets boost by controlling financial wastage's and corruption

AIOU’s annual saving gets boost by controlling financial wastage's and corruption

Islamabad – 9^th September 2013 Allama Iqbal Open University (AIOU) has made a substantial in its annual savings in the recent year as compared to the corresponding period, through better financial management, mainly  by controlling financial wastages, irregularities and corruption at various levels.

This was informed to the 53^rd meeting of the finance committee of AIOU which met here on Monday under the Chairmanship of its Vice-Chancellor, Prof. Dr. Nazir Ahmed Sangi. It was decided that the savings which has been unprecedented will be utilized for further carrying-out the University’s development plans which aimed at further expanding its infrastructural network throughout the country and enhancing its existing capacity and potential for providing best possible services to the students.

The finance committee approved 4.650 billion budget for the current year which shows thirty three percent increase as compared to the previous year.

The committee noted with satisfaction that 96% expenditure of the University is being met through its own resources which reflects the strong financial health of the University that was achieved through a better financial strategy and the administrative management, putting strict check on its annual income and expenditure The AIOU as an educational institution in public sector has achieved a singular distinction in the country, becoming self-sufficient in meeting its annual expenditures.

The committee highly appreciated the steps taken by the Vice-Chancellor for efficiently mobilizing and utilizing the University’s financial resources.  It was noted that annual growth of the University in terms of development and students’ enrollment has been unprecedented, and in this connection the efforts of the Vice-Chancellor were highly appreciated.

There had been special focus on opening of University’s new campuses and providing of latest technology-based educational facilities to the students. Video-conferencing, setting-up digital libraries and ‘state-of-the-art’ laboratories were given special attention. It was decided that a reasonable amount that is received through admissions should be diverted to ‘Educate a Child’ scheme so that maximum number of drop-out students could be brought into the educational net. It was noted that Rs. 100 million were specially allocated in the budget to facilitate the poor students, giving them fee concession. Eight special schemes were recently launched to accommodate the needy and deserving students, They will be awarded special scholarships and concession in the annual fee.

The finance committee also approved in principle a housing scheme prepared for the residence of University’s employees. It was agreed that University will provide necessary funding for its implementation. The coordinator of the scheme, Zafar Ilyas has been asked to work-out the details of the scheme, ensuring maximum benefit to the low-paid employees. The proposed housing plan will be place before the statuary body of the University for its approval at an appropriate time.

It was also decided that the senior posts including Registrar, DRS will be upgraded through proper restructuring work and the proposals to this effect will be submitted before the next meeting of the finance committee.

The meeting was attended, among others by the Registrar, Bashir Muhammad Chaudhry, Dean, Faculty of Social Sciences, Prof. Dr. Rashid A Naeed, President ASA, Prof. Dr. Zafar Ilyas, Suleman Saleem, Treasurer and the renowned journalist Qazi Asad Abid, as an external member.

(Ubaidullah Mumtaz)

Public Relations Officer