Soon,CEPT to draw up new consulting policy

The works undertaken by the CEPT University faculty for various consultancy projects have burnt a huge hole in its coffers. The institute is struggling with outstanding debt of Rs 3.7 crore. As per the statements of CEPT’s consulting wing,Centre for Research,Development and Consultancy (CRDC),while the revenues between 2009-10 and 2011-12 have shown 100 per cent increase,the expenses were pegged at 88 per cent and the institute managed to garner only 10.7 per cent in the bargain.

In a bid to address the issue,CEPT has constituted a Consulting Policy committee that will draw up a policy by September and will decide on all future consulting projects to be undertaken by the university. “In the last four years,CEPT has got only 10 per cent of the revenue generated from these consultancy projects. The institute currently has cash flow problems. While it needs to pay bills worth Rs 3.7 crore,it has only around Rs 32 lakhs in its account. This is a result of many faculty members taking on risky consulting works. CEPT has shelled out loans to consultancy projects which have yielded negative balance,” says Bimal Patel,Director of CEPT University.