Universities fail to spend Rs. 5.7 billion

2019-11-08 at 16:49

The Committee on Public Enterprises has revealed that a total sum of Rs.5.7 Billion of the funds allocated to state universities through the annual budget, have been maintained in 794 bank accounts affiliated to 15 state universities.

Additionally, the committee also stated, as at the 31st of December 2017, a total sum of Rs.1.4 billion has been unutilized, of the money that is annually given to universities as capital grants.

It was mentioned that preparing estimates without conducting proper research and the Administrative staff being reluctant to conduct thorough checks were the causes for the funds being not utilised.