KMU senate approves Rs. 628.136 million surplus annual budget for 2023-24

The Rs. 628.136 million surplus annual budget 2023-24 consisting of 2987.906 million expenditure and 3616.043 million income of Khyber Medical University (KMU) Peshawar was approved. This approval was given in the 16th meeting of the KMU Senate, held under the chairmanship of the caretaker provincial minister for higher education; Justice (Rtd) Irshad Qaiser, at Governor House Peshawar. Besides, acting vice-chancellor Prof. Dr. Rubina Nazli and Registrar Inamullah Khan, Secretary to Governor Mazhar Irshad Khan, Secretary Higher Education Department Dr. Aneela Mahfooz Durrani, Additional Secretary HED for Universities Javed Iqbal, Additional Secretary Establishment Muhammad Saeedullah, Additional Secretary Finance Wasif Rehman. , Director General Finance HEC Ghulam Nabi, and other members attended the meeting.

While presenting the revised budget for 2022-23 as well as the budget estimates for 2023-24 before the Senate, KMU Treasurer Waseem Riaz said that the credit for the university's surplus budget goes to the entire management of the university under the leadership of KMU vice-chancellor Prof. Dr. Zia ul Haq, especially the financial team, whose day-to-day hard work and excellent financial management have enabled the university to deliver a surplus budget, which is a source of satisfaction for all of us.

He presented the revised surplus budget of Rs. 689.250 million for the year 2022-23 in addition to the surplus budget of Rs. 628.136 million for the new fiscal year 2023-24. He said that in the new financial year, the university has decided to establish some new institutes and to pay attention to the stability of already established institutions and ongoing educational programs for which a significant amount has been allocated in the budget.

He told the senate that according to the vision of the vice-chancellor Prof. Dr. Zia ul Haq, the university is making revolutionary reforms in view of bringing more transparency in the examination system and prompt release of results, under which the entire examination system is being computerized and adequate amount has been allocated in the budget for this purpose.

Later, while addressing the meeting, the provincial minister for higher education Justice (Rtd) Irshad Qaiser hailed KMU's surplus budget and hoped that KMU would not only maintain this status in the future but also the university will implement viable projects for profitable investment of surplus funds. While appreciating the financial discipline of the university, she emphasized the need to allocate more money in the budget for giving scholarships to needy and intelligent students. Finally, after detailed discussion and deliberation, the meeting unanimously approved the revised budget for 2022-23 and the annual budget for 2023-24.