Himachal Pradesh University (HPU) is taking steps to address its rising expenses by implementing a series of new revenue-generation strategies. The HPU has revived its plan to establish its own printing press to reduce the increasing expenses and explore new sources of revenue. The university has previously worked on this idea, but the plan was never fully implemented. Now, the university administration is focused on making it a reality.
A meeting of the Resource Mobilization Committee, chaired by Vice Chancellor Prof. SP Bansal, was held on Thursday to discuss ways to gather additional resources for the university. A major part of the discussion was the establishment of an in-house printing press. Currently, HPU spends a significant amount on outsourcing printing jobs, but the new printing press will reduce these costs through a one-time investment.
Additionally, the university has decided to cut fares for its transport services, setting them at 50% of the rates charged by Himachal Road Transport Corporation (HRTC). The university’s transport services will be outsourced through a competitive tender process, aiming to enhance efficiency and cost-effectiveness.
The university is also exploring opportunities to generate income from its existing assets. The Center for Distance and Online Education (CDOE) building in Noida, which is currently underutilized, will be rented out. Further possibilities for raising funds from the building’s premises will also be explored to maximize its potential.
Prof. Bansal emphasized that once the proposed plans are implemented, the university could generate an additional Rs 50 crore annually. As part of the plan, HPU will also introduce a nominal fee for students to cover the operational costs of online services. Furthermore, newly constructed shops on the university campus will be rented out to contribute to the revenue stream.
To further boost its finances, HPU is revisiting the possibility of expanding its campus at Ghanahati. This expansion could accommodate more professional courses and enhance student amenities, including hostel facilities, which would, in turn, help increase the university’s revenue base.
These initiatives are part of HPU’s broader strategy to enhance its financial sustainability and ensure that the university continues to provide quality education and services to its students without relying heavily on external funding.
