Even as the first quarter of this financial year is about to end, Punjab Engineering College (PEC) is yet to receive the planned fund of ₹5 crore from the Chandigarh administration.
PEC gets around ₹60 crore from the Chandigarh administration every year, of which ₹20 crore is a planned fund, which the college gets paid in four equal instalments of ₹5 crore in every quarter.
PEC director Dheeraj Sanghi said, “We are hopeful of receiving the planned instalment in July.”
“We have not faced any major financial issues so far, but, payments of some bills have been delayed,” he added.
With PEC’s centenary approaching, the institution had asked the Chandigarh administration for ₹750 crore last year to revamp infrastructure.
According to the proposal, the institute has sought a ₹150-crore grant every year for a period of five years. But the Covid-19 lockdown has proven a dampener for the institute’s plan.
“We have not received any update on that proposal yet. We haven’t sent a reminder to the administration either amid the current crisis,” Sanghi said.
{{/usCountry}}“We have not received any update on that proposal yet. We haven’t sent a reminder to the administration either amid the current crisis,” Sanghi said.
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