The University Grants Commission (UGC) has directed public universities to use the budget allocated in the current fiscal year wisely.
In a press statement on Tuesday (26 July), authorities of public universities have been asked to halt the purchase of new vehicles or replacement of used ones.
Besides, no money can be spent on meetings from the honorarium allocated for projects, according to the release.
It also barred spending more than 50% of the allocation on training purposes, entertainment expenses, computers and accessories, electrical equipment, furniture or others, considering the urgent and essential areas.
Universities have been asked to save allocation for energy by 20% and power by 25%.
UGC asked universities to try to conduct meetings, seminars, workshops or trainings virtually as much as possible.
The instructions were given in a recently held meeting regarding the proper use of the money allocated to public universities.
In the meeting, Member of Finance and Accounts Department of UGC Abu Taher said, "To reduce costs, the government has given several instructions for the implementation of the current fiscal year's budget.
"In terms of spending, these guidelines should be followed," he recommended.
Director of Finance and Accounts Department of UGC (Additional Duty) Md Shah Alam, registrar of Public Universities, head of Accounts and Engineering Departments also participated in the meeting.
Following the circular issued by the government regarding cost reduction, the UGC has instructed public universities to plan their annual purchase. It also directed to upload the formulated purchase plan online through the prescribed software on 31 July.
Earlier, Prime Minister Sheikh Hasina directed the ministries concerned to emphasise only on important projects and put the less important ones on hold in order to save government spending.