Punjab government will give Rs 150 crore loan to Punjabi University: CM Channi

Ravneet Singh

Tribune News Service

Patiala, 24 November

In a major relief to the cash-strapped Panjab University in Patiala, Punjab Chief Minister Charanjit Singh Channi on Wednesday announced that the state government will take over Rs 150 crore bank overdraft of the university.

He also announced an increase in the monthly grant (from Rs 9 crore to Rs 20 crore) of the university to tide over the financial crisis.

He was at the university at the launch of two centers – ‘Center for Ecosystem Restoration in Punjab’ and ‘Centre for Rural Entrepreneurship and Skills Training’.

“We discussed the financial crisis of the university and decided to take the Rs 150 crore bank loan of the university during the previous governments. The university will not have to pay it. The government will instead,” he said.

Channi said the expenses of the university were more than his income. “It is facing a loss of more than Rs 10 crore every month after discharging all the expenses. Hence, we have decided to increase the university grant from Rs 9 crore to Rs 20 crore every month,” he said.

Channi said that Punjabi University has played an important role in the upliftment of Punjabi language and people.

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

Addressing the students, he said that they should continue to reinvent themselves. “Make sure you regularly attend sports and cultural events,” he said.

He also told that he should have a goal and work diligently to reach the goal.

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

A group of unemployed ETT teachers and guest faculty from government colleges protested outside the VC office.