Sharif said he still remembers the university canteen, friends and honourable teachers and suggested the vice chancellor not to call it university but Government College.
He asked the Vice Chancellor that he might remain VC but not change the name-plate of "principal" from his office.
"Today, we are in a knowledge-based economy," the premier said, addressing students at the 12th annual convocation of the University, one of the oldest educational institutions in the country.
Sharif joked that the vice chancellor of the university had given him the degree but also asked for Rs 9 billion in donation.
"I don't know if I am being given the degree or if I am buying it," he joked leaving the audience in splits.