DUET’s Syndicate Approves Budget Estimates and Reforms
|The meeting of the Syndicate, presided over by Engr. Prof. Dr. Samreen Hussain (TI), Vice Chancellor of Dawood University of Engineering & Technology (DUET), took place to discuss important matters concerning the university. Under the leadership of Prof. Dr. Samreen Hussain, the Syndicate acknowledged and approved various recommendations put forth by the Academic Council and Finance Planning Committee. These recommendations included the Revised Budget Estimates for FY 2022-23 and the Proposed Budget Estimates for FY 2023-24, which will now be submitted to the Senate for final approval.|
Endowment Fund Trust and Other Reforms Approved
During the meeting, the Syndicate expressed its appreciation for the efforts of Prof. Dr. Samreen Hussain in proposing the establishment of the DUET Endowment Fund and drafting the Trust Deed for it. The Syndicate also commended the Vice Chancellor for revising the leave encashment policy in alignment with the Government of Sindh’s guidelines. Additionally, the resolution to replace the Ex-gratia with a yearly honorarium/convocation bonus, introduce a framework for Group health insurance, implement DUET GP fund policy, and establish “study leave rules” was approved. The Syndicate also acknowledged the framing of financial rules for “statement of accounts,” “investment policy,” and “capital asset management.”
External Audit of University Funds and Other Decisions
The Syndicate welcomed and endorsed the decision to conduct external audits of the university funds and the Request for Proposal (RFP) to appoint external audit firms. Prof. Dr. Samreen Hussain was applauded for repealing the resolution regarding the purchase of an official vehicle at a depreciated value at the end of the term, as well as for not availing the entitlements of a fuel allowance. The members of the Syndicate expressed their satisfaction with the reforms, financial discipline, and future plans presented by Prof. Dr. Samreen Hussain and her team. They extended their complete support and faith in the new leadership and team. The Syndicate also conveyed its support for the Vice Chancellor’s vision for the institution and congratulated her on presiding over the first meeting of the Syndicate during her tenure.