Jubilation to Public Institutions as CS Machogu Makes this Statement
Jubilation to Public Institutions as CS Machogu Makes this Statement. In order to investigate options for waiving some of the Sh. 60 billion debt that public institutions owe the Kenya Revenue Authority (KRA), the Ministry of Education is now in talks with the Treasury.
According to recent studies, this financial burden grew over the past five years, partly as a result of the strategies KRA used to collect levies from these educational institutions.
The administration has admitted that these colleges are unable to pay their outstanding debts due to the catastrophic financial circumstances they are in. The creation of a committee with the responsibility of taking care of these unpaid responsibilities has been announced by CS Ezekiel Machogu.
He has also stressed that the new funding model under consideration aims to address the financial difficulties universities are now experiencing. Notably, the initial recipients of this altered financial scheme will be institutions that serve kids with special needs.
This development offers some optimism to public educational institutions that have been struggling with heavy debt loads that, if not addressed, could have forced them to close owing to a lack of funding.
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