Universities need to generate own funds: Khaled Nordin-The Star Online

Published: Monday March 29, 2010 MYT 5:46:00 PM

Universities need to generate own funds: Khaled Nordin

SERDANG: All institutes of higher education have been urged to generate their own funds of up to 15-20% over and above that provided by the government each year.

Higher Education Minister, Datuk Seri Mohamed Khaled Nordin, said the education sector needed large and continous funding but the government could not continue to bear the total cost.

He said each institute of higher education, as a matter of principle, needed to generate its own funds as they were backed by intellectuals who could help raise funds.

“There are universities which can raise up till 30% in income over and above that provided by the government but there are also those who can only come up with one to 20%.

“We have not set any target but the ministry will emphasise this aspect, more so when we are giving them autonomy.” he told reporters at a news conference after launching the Putra Science Park here Monday.

He said the target could be reached via new products and approaches that could be commercialised for research and development.

The commercialisation of high quality research and development in the business and industrial sectors could provide large returns and therefore increase a university’s income.

“The ministry is also discussing with the Finance Ministry to study a new rate for lecturers who do consultancy, to be at least on par with private sector rates. – Bernama

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