South Asian University president: No funding issues, aims to open new campuses in SAARC nations

The South Asian University has entered a positive phase by securing funds from member countries of the South Asian Association for Regional Cooperation (SAARC), offering a respite from its previous financial challenges, according to statements made by SAU President KK Aggarwal. In an interview with PTI, Aggarwal detailed the university’s strategy under his leadership, focusing on fiscal responsibility by attracting more students without scholarships and implementing a more pragmatic salary structure for faculty. Aggarwal highlighted that the university, which operated without a regular president for nearly four years, is now positioned for financial recovery, with member countries demonstrating a renewed commitment to meeting their funding obligations. He emphasized the need for realistic budgeting, indicating a reduction in the number of fellowships and scholarships to ensure financial sustainability. Additionally, plans are underway to design a more rational salary structure, alleviating financial burdens. Apart from India, which contributes 57% of the funding, the other seven SAARC countries collectively provide 43% of the total funding to the international institute. Aggarwal affirmed that the university’s immediate focus is on developing infrastructure in its new permanent campus in South Delhi’s Maidan Garhi area. The funding is also earmarked for expanding operations, including the establishment of branches across India and offshore campuses in each of the SAARC countries. Earlier concerns about the university’s financial stability were raised by External Affairs Minister S. Jaishankar in 2022, highlighting that some SAARC countries had not fulfilled their financial commitments, leading to severe financial constraints. Aggarwal stressed that steps are being taken to reduce expenditures where possible, emphasizing the importance of financial prudence. The university had faced challenges, including ad-hoc appointments to key positions since 2019, resulting in a loss of about Rs 90 lakh due to erroneous tax exemptions and various student protests. The current efforts aim to streamline operations, ensuring a more stable and sustainable future for the South Asian University. Source: PTI Also read: SAARC: Bleak future Facebook Twitter LinkedIn WhatsApp