No funds to pay salaries and pension; universities in state facing severe financial crisis
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Home News Kerala

No funds to pay salaries and pension; universities in state facing severe financial crisis

by Janam Web Desk
May 15, 2023, 04:06 pm IST
in Kerala

THIRUVANANTHAPURAM: The universities in the state are struggling without money to pay salaries and pension. The universities are also doubtful about paying benefits to those retiring on May 31. With this, the universities are about to withdraw fixed deposits to pay salaries and pension.

The universities in the states are facing severe financial crisis and they plan to withdraw fixed deposits and take overdraft to pay their employees. The government had forced to transfer crores of its own funds to the treasury and cancelled the last installment of Rs 89.02 crore for the previous financial year. Due to this, the universities are planning to withdraw fixed deposits and as a result the development activities have come to a standstill.

If the universities hike fees to increase the income, then it would affect the poor students. The situation in Kerala, Calicut, MG, Sanskrit, Agriculture and Open universities are very pathetic. The government is backing down from paying pension and retirement benefits to employees. The Finance Department’s order to set up the Pension Fund and Pension Fund Board was later frozen due to protests.

Tags: UNIVERSITIESFINANCIAL CRISISSALARIESFEATUREDpension
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