Delay in scholarship results into NPA accounts

Tribune News Service

Jalandhar, June 13

Ashwani Sekhri, Chairman, Joint Action Committee (JAC) comprising 14 Associations of unaided educational institutions, representing around 1,600 unaided colleges of Punjab on Wednesday stated that the delay in the disbursement of Post-Matric scholarship (PMS) of worth Rs 1,600 crore had resulted into hundreds of NPA accounts.

It had also resulted into cheque bouncing cases, auctions of the colleges and legal proceedings against members of the societies and trusts, delay in the salaries and financial and mental stress to management and staff of the unaided colleges.

S Rajinder Dhanoa, General Secretary, Polytechnic Association said the unaided colleges who did not pay their bank loan dues for 3 months, have been declared as NPAs and banks have started taking legal action against colleges/trusts.

On the other hand, colleges are not getting their sanctioned dues for the PMS from the government for the last three years. Over Rs 1,600 crore is lying unpaid for the last three years, resulting into the generation of NPA accounts.

Need of govt intervention

B.Ed Federation President Jagjit Singh said earlier the students of Punjab used to go to South Indian States for higher education. But to make Punjab the education hub, the entrepreneurs from Punjab managed to arrange money from private financers on heavy loans and now at this alarming stage, the government should pay attention to save the education sector.

JAC to meet CM Punjab on June 21

Sekhri urged the central government to release pending Rs 1,600 crore of the PMS amount. He said JAC would meet CM, Punjab, S Captain Amarinder Singh on June 21 and would urge him to intervene and pressurise the centre to release funds to save around 1,600 dying unaided educational institutions of Punjab.