College managements are firm on their decision that the government immediately release 50 per cent of the Rs. 1,900 crore due to the professional colleges and the remaining in the month of April. “We stand on our decision and will not accept anything less than immediate release of 50 per cent of funds,” said Rajeshwar Reddy, general secretary of the Consortium of Engineering College Managements Association (CECMA).
In fact, managements are questioning the government's intentions. “If they were sincere, they would not have approached the Supreme Court seeking another three months time,” Dr. Reddy said. He said the suggestion of the government giving counter-guarantee for bank loans was ridiculous as the colleges would have to pay interest. Moreover, ultimately banks would be after the colleges and not the government for recovery.
The Consortium of Engineering and Professional Colleges Managements Association Working president, Nova Krishna Rao said they would consider accepting counter guarantee for bank loans for the second instalment, but government had to release 50 per cent funds immediately. “We will go ahead with closure of all engineering and professional colleges if a positive response doesn't come in the meeting,” he said.
The government, in principle, decided to release orders sanctioning Rs. 600 crore in the Cabinet on Monday, but the college managements said it wouldn't serve any purpose. Out of the Rs. 600 crore, two-thirds only would go to tuition fee dues and the remaining for the maintenance money given directly to students.
In effect, colleges would not get Rs. 600 crore and moreover, they were not sure in how many instalments the money would be released.
Source: The Hindu
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