The financial deficit of public universities in Punjab has reached a staggering Rs21 billion, reported 24NewsHD TV Channel on Monday. 

The channel reported that the Punjab Higher Education Department has presented a report on the universities' financial losses to the government. 

As per the HED report, the total expenditure of all universities in Punjab is approximately Rs100 billion. 

The report said the funding to the public universities from the Higher Education Commission (HEC) and the Higher Education Department (HED) has also been reduced.

According to the report, the financial deficits of various universities are as follows: 

University of Engineering and Technology (UET), Lahore: Rs1.41 billion, Punjab University: Rs1.18 billion, University of Home Economics: Rs470 million, Government College University (GCU): Rs450 million, Information Technology University (ITU): Rs280 million, and University of Education, Lahore: Rs110 million.