Money making must stop: Pvt varsities asked to submit audit report every year

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M M Jasim :
The government is going to take strong measure to check financial irregularities of the private universities with a view to making these higher educational institutions corruption free.
The government has also asked the authorities of private universities to submit their audit reports on income and expenditure by December 31 every year and to stop all kinds of financial corruptions to avoid stern action.
The Education Ministry has taken the decision recently after discovering lots of financial irregularities caused by the Board of Trustees (BoT) members of almost all the private universities. The ministry sent letters to the vice-chancellors of the private universities with instructions to follow the direction.
The ministry will take stern action, including closure of the university if any varsity fails to submit the report in time and shows little respect to the ministry’s order.
There is wide criticism that the BoT members of the private universities enjoyed illegal facilities and earned huge money from the universities. The Bangladesh University Grants Commission has been trying to control the unnecessary expenditure of the varsities, but it failed.
Besides a good number of universities have no vice-chancellors, pro-vice-chancellors and treasurers.
The ministry officials told The New Nation there was no other option other than taking such punitive measurers.
The sponsors of the private university started their institutions with the promise of not enjoying any financial benefit from these higher educational institution. But most of them did not keep their promise.
Md Rahed Hossain, Deputy Secretary (Secondary and Higher Education Division of the Education Ministry) said, according to the Private University Act-2010, each private university must submit their audit report by December 31 every year. But unfortunately most of the varsities did not submit any audit report.
“Realising gravity of the matter and with a view to controlling the universities the ministry decided to take action against those universities which will fail to submit their report,” Rahed Hossain said.
Shamim Al Razi, Joint-Secretary of the Education Ministry said, the private universities sponsored to be non-profitable institutions. But they make their varsity profitable and amassed huge money.
The UGC sources said, University of Science and Technology in Chhattagram established about two decades ago. But it never submitted any audit report. The UGC has no information about the income-expenditure of the university. Rather, it has received many financial allegations against them from different quarters.
Like the University of Science and Technology many other universities including Manarat International University, Pundra University, Royal University and Victoria University did not abide by the Act.
The ministry officials said, there are at least 12 Syndicate Members in each varsity. Each of them draw about Tk four lakh for attending one meeting. They also allocate a large sum of money for traveling foreign countries and draw vast amount of money in the name of honourium.
On February 6, Abdul Hamid, President and Chancellor of all public and private universities gave 16-point direction in a meeting to administer the private universities smoothly and curb all types of corruptions. Financial corruption was the top issue of the discussion and the President asked the ministry to take measurers immediately.

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