Director Finance Message
I the Director Finance Kohat University of Science & Technology, Kohat am a business as well as economic graduate from University of Peshawar of international fame and having sixteen years of experience at various highly responsible positions, dealing financial matter in various government institutions.
I have to say with great honor that Kohat University of Science & Technology has been blessed with increasing financial strengths. Many of my predecessors faced serious challenges to provide even the most basic services to the university's students, faculty, and staff. But today, despite the impact of the recent economic downturn, I am fortunate enough to serve this university in the present sorry state of financial saga. At present, the university is certainly stronger than it was few years ago. KUST has stepped into a new era of economic challenges for higher education during fiscal year 2010-11.
The university's long-term obligations remained relatively unchanged from one year ago. Although certain forms debt financing have been very attractive in recent months, we have decided to maintain a conservative leverage position rather than take on additional debt. We have funded capital investments from internal resources, a prudent move in this difficult economic environment, and maintained a long term debt to minimum capital ratio.
Management and general costs have continued to escalate, driven up recently by investments in technologies and employee development. Since every rupee spent at the university is funded largely by rupee provided by student generated sources and HEC funding, we recognize that every possible effort should be undertaken to limit the growth of these costs.
The past year has been a challenging one, and I foresee more economic difficulties in the year to come. Nonetheless, I am confident that the blessing that have accrued to this very special place will carry us securely into the future. Above all else, Almighty has blessed KUST with talented faculty and staff, wonderful students eager to learn and serve, and committed donors/HEC that support this university in the pursuit of its unique mission.
Muhammad Zafar Khan
Director Finance KUST