Punjab govt to pay Punjabi University’s Rs 150 crore loan, says CM Channi

Ravneet Singh

Tribune News Service

Patiala, November 24

Providing a major relief to cash-strapped Punjabi University, Patiala, Chief Minister Charanjit Singh Channi on Wednesday announced that the state government would take over the university's Rs 150 crore bank overdraft.

He also announced an increase in the university's monthly grant (from Rs 9 crore to Rs 20 crore) to tackle its financial crisis.

He was at the university at the launch of two centres - ‘Centre for Restoration of Ecosystem in Punjab' and the 'Centre for Rural Entrepreneurship and Skill Training’.

He said, "We discussed the financial crisis of the university and have decided to take over the bank loan of Rs 150 crore of the university that it had availed during the previous governments. The university will not have to pay it. The government will do that instead."

Channi said the university's expenditure is more than its income. "It is reeling under a loss of over Rs 10 crore after discharge of all expenditure every month. Therefore, we have decided to increase the university's grant from Rs 9 crore to Rs 20 crore every month."

Channi said Punjabi University had played an important role in the uplift of Punjabi language and people.

"It is important that we teach Punjabi to our children,” he said.

Addressing the students, he said they should continue to strengthen themselves. "Ensure that you participate in sports and cultural events regularly,” he said.

He also pointed out that they should have a target and work diligently to reach the goal.

Channi was accompanied by Finance Minister Manpreet Singh Badal, who said the financial crisis of the university had been there for years and the grant would bring it the much-needed relief.

A group of unemployed ETT teachers and guest faculty of government colleges protested outside the V-C office.

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