The Sindh government is considering providing a bailout package to the University of Karachi (KU) to help it overcome significant financial challenges.
It was announced during the university’s 23rd Senate meeting on Tuesday. The session, held at the Chinese Teachers Memorial Auditorium, addressed the immense economic pressures facing the institution while also approving its budgets for the upcoming fiscal years.
Presided over by the Provincial Minister for the Universities and Boards Department, Muhammad Ismail Rahoo, the meeting saw the unanimous approval of the Annual Statement for 2023-24, the Revised Budget for 2024-25, and the Proposed Budget for the 2025-26 financial year, which were presented by KU’s Finance Director, Syed Jahanzeb.
The Senate also formally endorsed the statutes for the Karachi University Endowment Fund and the Karachi University Pension Endowment Fund. KU’s Finance Director Jahanzeb informed the attendees that these frameworks are designed to manage the university”s monetary resources in an effective, transparent, and sustainable manner to better support academic, research, and welfare activities.
Addressing the assembly, Minister Ismail Rahoo acknowledged that KU, as the province”s largest university by student enrolment, naturally contends with substantial administrative and financial hurdles. He confirmed that most public universities in Sindh are grappling with various issues, and the provincial government is taking serious measures to address them.
Rahoo noted that the government has been consistently increasing grants for universities to offset the impact of rising inflation, salary increments, and pension liabilities. He assured the Senate that the challenges highlighted would be resolved gradually and announced that a bailout package for KU would be considered, emphasising that major obstacles can only be surmounted through collective action.
The minister also praised the academic vision of KU’s Vice Chancellor, Professor Dr Khalid Mahmood Iraqi, stating that improvements in the university”s ranking and infrastructure, despite limited resources, demonstrated that progress is possible with the right direction and strategy.
Earlier, the KU VC highlighted that despite severe monetary constraints, the university’s academic and research output has steadily improved, reflected in its rising international ranking and an increasing number of research journals. He attributed the financial stress to rapid inflation and government-mandated increases in salaries and pensions, while commending the Sindh government”s continued enhancement of grants as “exemplary.”
Dr Iraqi assured that the KU administration is striving to provide the best possible facilities to its community. He shared that students are being offered numerous scholarships, including those funded by USAID, the Sindh Educational Endowment Fund, the UK Alumni Association, and the Benazir and Ehsas undergraduate programmes.
The Vice Chancellor also reported on various institutional advancements, including the expansion of online facilities, new construction projects, and enhancements to transport, sports, and healthcare services. He noted significant improvements in the Examination Department’s efficiency, ensuring the timely release of results, and revealed that 66 Professors and 71 Associate Professors have been appointed permanently on merit to strengthen academic standards.
The meeting was also attended by the Secretary of the Universities and Boards Department, Muhammad Abbas Baloch, the Regional Director of the Federal Higher Education Commission, Sulaiman Ahmad, and members of the Syndicate, deans, and chairpersons.