Friday, August 23, 2019 | ePaper

Financial corruption in pvt varsities

Govt to take punitive action

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M M Jasim :
The government is going to take stern action soon against the financial corruption in the private universities soon.
The government took the decision watching some private universities authorities' reluctance to submit their financial report to the University Grants Commission (UGC).
The UGC also formed a probe committee getting the Education Ministry's order.
The ministry said, there are allegations of embezzlement of fund by trustee board members of some private universities as they are not submitting their audit reports regularly.
Sources said the UGC has already launched investigation and it will submit their findings to the ministry soon.
The UGC sources said, it has found many financial irregularities in a good number of private universities.
UGC Chairman Professor Abdul Mannan said, they will take stern action against the corrupt universities.
Allegations of fund embezzlement by trustee board members have gone  
 widespread for quite some time now.  On many occasions, UGC Chairman Prof Abdul Mannan said also some private university owners consider the institutions as business entities though the universities are not making money place and the owners shouldn't expect any return from the educational institutions.
As per rules, the private universities are bound to submit audit reports by December 31 to the UGC every year, but most of the universities are violating the rules.
There are allegations that many private universities do not submit audit reports to hide their financial irregularities and corruption.
According to the annual report of UGC-2017 published in November, only 25 out of 83 private universities submitted their audit reports to the UGC.
A UGC official said, "It is clear that the private universities are reluctant in submitting their audit reports though it is mandatory for ensuring the transparency and financial discipline."   
Insiders said education ministry cannot take action against the private universities despite the irregularities for years as the owners of the universities are very influential persons.
More than 100 private universities were established in the country since 1992.
The Private University Act-2010 empowered the vice-chancellor of the private universities to take some important decisions but they cannot exercise their legal powers as the members of the board of trustees are more powerful.

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