Govt to Re-negotiate Public University Debts

Government will re-negotiate the payment plans for the 1.4 billion Kwacha owed by public universities in the country.Higher Education Minister Brian Mushimba says government had committed to liquidating the debt which public universities owed within a period of three years.He says government had in the first year released 40 million Kwacha adding that an additional 30 million Kwacha will be released this year to dismantle the debt.Dr. Mushimba says the money being released has been channeled towards payment of terminal benefits and indebtedness to many of the retirees that are even deceased.He says the Ministry of Higher Education will however be going back to the drawing table to indicating that the commitment it made to liquidate the debt owed by Public Universities for a period of three years may NOT be possible.Dr. Mushimba says there is need re-negotiate the terms and stretch a bit and also ensure the institutions re-commit themselves in being prudent in the utilization and management of financial resources in order to stop the leakage.He was speaking when he featured on ZNBC’s Sunday Interview program.Dr. Mushimba has challenged higher learning institution’s in the country to diversify their resource base to enable them meet the demands of the University and not only relay on grant’s from Government. Post Views: 2
News Source: ZNBC

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