KARACHI: Under its policy to continue improving its laboratories, the Sir Syed University of Engineering and Technology (SSUET) would spend Rs 41.60 million on updating the laboratories of its various departments during 2010-11.

“We spent Rs 32.90 million for this purpose during 2009-10 and have increased this amount by Rs 8.70 million this year to provide far better facilities to engineers of tomorrow,” said Chancellor of the SSUET ZA Nizami on Sunday.

Nizami said that out of the total investment of Rs 41.60 million to be made during 2010-11, Rs 13 million will be spent on purchasing new equipment for the Electronic Engineering Department, Rs 14.20 million for the Computer Engineering Department, Rs 6 million for the Bio-Medical Engineering Department and Rs 8 million for the Civil Engineering Department.

He stated that under a resolution of Board of Governors, an amount equal to 50 percent of the profit earned on Investment of Endowment Fund is reserved for the development.

Nizami informed that an amount of Rs 14 million was provided under this head during 2009-10 and the provision has been increased to Rs 15 million during 2010-11 due to better returns on the invested amount. The Chancellor SSUET further stated that the accumulated balance in the Development Fund now stands at Rs 50.60 million. app