One of the most renowned and elder universities of Lahore has made a decision which has left a lot of people in the moment of awe. The entire world suffers with not only health but economic challenges and at the same time, universities in Pakistan are also going through the same. In order to handle this financial crunch, UET has decided to implement a cut in the salaries of their employees. Not only this, in fact, the pensions of retired employees will also suffer the financial cut.
More importantly, public universities are also short of funds due to reduction in financial budget made by government for HEC. UET Lahore has informed their employees and retired staff through a notification stating that they are short of 93 Million for the payment of salaries and pensions. The cuts are implemented across the university with linking them to grades. As far as VC is concerned, he will receive only 50% of his salary, whereas, Grade 18-21 will get 65% of salary, Grade 17 will get 70% of salary. However, the cut is reduced to 20% and 10% for lower level grades. The staff among the grades of 1 to 4 will not experience a cut owing to their less salaries.
Pensions are disbursed in the three categories; A class, B class and C class. The pensioners will also get reduced salaries. A Class will be paid 65% of their pensions, B Class will get 70% of pensions and lastly, there will be no cut for C Class as they will get full pensions. However, this plan is to be followed until the situation gets improved.
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