The University of the Philippines on Friday welcomed what it called a “dramatic increase” in its annual budget after Malacañang approved an additional P3.9 billion for UP’s purse next year.
The amount brought the state university’s total budget in 2013 to P10 billion.
In a statement, the UP administration thanked President Aquino, Budget Secretary Butch Abad and Commission on Higher Education Chair Patricia Licuanan for “this decisive action.”
“The dramatic increase in UP’s budget shows that the national leadership has recognized that UP is worth investing in,” said university president Alfredo Pascual.
“Money given to UP is not an expense but an investment in the country’s human capital and knowledge base,” Pascual said, adding:
“UP contributes to national development by producing leaders in various fields, expert manpower needed by industry and higher education, plus research outputs that drive innovation and national competitiveness. UP also makes use of the knowledge and expertise of its faculty and staff to deliver public service.”
Pascual said the increase represented a 63-percent spike from this year’s budget of P6.2 billion under the 2012 General Appropriations Act.
Citing figures from the Department of Budget and Management, the UP administration said the 2013 budget for state universities and colleges was raised by P11.3 billion to P37.1 billion, or up by 44 percent from the 2012 budget.
Under UP’s 2013 budget program, capital outlay support rose to P1.45 billion from P190 million in 2012, while the allocations for personal services was pegged at P6.5 billion, up by P1.2 billion.
Maintenance and other operating expenses will get a 188.2-percent boost amounting to P2 billion, which will cover research and other related activities for the university’s nationwide campuses.
“The remaining amount will be devoted to retirement and life insurance premium support for faculty and staff,” the UP statement added. Julie Aurelio