Cash-strapped Self Financing colleges up for sale

Jul 03, 2013

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Thiruvananthapuram: With a large number of BTech seats in the state remaining vacant, many self-financing colleges are up for sale in the wake of acute financial crisis, but there are no takers for these institutions.
Sources said that managements of about a dozen self-financing engineering colleges and some medical colleges have initiated the process to sell their institutions. However, none have shown interest in investing in such colleges, said sources.
Already the ownership of two institutions, one a self-financing engineering college and another a self-financing medical college, has changed hands. Mary Matha College of Engineering and Technology, Neyyattinkara, was taken up by the PRS group and renamed PRS college of engineering and technology.
SUT Medical College, Vattappara, Thiruvananthapuram, has been taken over by the Sri Kanchi Kamakodi Madom Charitable Trust.
There are 52,000 seats for engineering courses in Kerala alone. Last year, there were only 37,000 takers. The result was that 18,000 seats remained vacant in various self- financing engineering colleges. This year also, only 30,000 students have submitted options for the colleges.

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