KARACHI - By observing two-day weekly holidays (Saturday and Sunday) Karachi University (KU) will save Rs 72 millions annually on the daily expenditures, while one month delay in the implementation of two day weekly holiday notification may cause millions of rupees loss to the KU administration, The Nation has learned.A recent meeting of the Academic Council of University of Karachi, under the chair of KU Vice Chancellor Prof Dr Muhammad Qaiser, decided that KU will also observe two day holiday, for Saturday and Sunday, while two day weekly holiday notification will be applicable from second semester from July 15, 2012.A well placed source in the Karachi University said that the overtime mafia will ultimately benefited from one month delay in the implementation of two day weekly holiday notification, saying that now Friday should be full working day because around 1500,000 rupees are spent on daily expenditures, but this amount is used only for two and half hours due to Friday prayer.He said, “In the light of budget there are some heavy expenses which can be controlled owing to bi weekly off. In general Friday has very little time as they work from only 09.00 am to 11.45 am He added that “Due to these 2 to 21/2 hours a huge load is put on the budget. I must suggest two things either to open the university on Friday for full day or to close the university on Saturday with Sunday. By increasing the daily timing the University can also reduce overtime.” NED University of Engineering and Technology has already issued notification of two day holiday that will be effective from May 26, 2012. However, Karachi University is the only institute which is opening on Saturday.As per expenditure details, gathered by The Nation, “Karachi University spends around Rs400,000 per day on account of electricity, while RS 200,000 on diesel per day. About 200,000 rupees are spent on account of water, gas, while Rs 150,000 are paid for overtime and daily wages. The University spends around Rs 100,0000 per day. If the daily expenditures of all centres, which have autonomous bodies, are included in the said amount it can touch Rs 150,0000 on account of daily expenditures.”Around Rs 20.28 million can be saved annually just on account of electricity and Rs 9.88 million on diesel.