The University of Dhaka is dedicated to the advancement of learning, and is committed to promoting research in all field of knowledge. As the pioneer and largest seat of learning in the country, the University of Dhaka has taken the task to foster the transformation process of the individual students and the country as a whole through its educational and research facilities keeping up with demands of the day. The University of Dhaka is at this one of the leading institutions of higher education in Asia. This research monograph is a study, where I attempted to analyze the statutes of Dhaka University (DU) Ordinance 1973, its feasibility to run the state funded university, theoretical and practically implementation gaps, loopholes of statutes on the view of present universal standard of university education. The paper also suggests that, how to removing Institutional weaknesses and putting an end to political and administrative interference in the functions of the university to make it more.