Wed | Aug 16, 2017

Reid pledges to help fix financial woes at UTech

Published:Tuesday | November 1, 2016 | 11:07 AM
Speaking at the installation ceremony of Richard Powell as UTech’s Pro-Chancellor yesterday afternoon Reid said he will be working with his opposition counterpart and the university administration to turnaround the institution.

Education Minister Ruel Reid has expressed optimism that the challenges being faced by the University of Technology (UTech) can be remedied.

The precarious financial situation at UTech was exposed during a recent sitting of Parliament’s Public Administration and Appropriation Committee (PAAC)

In a report to the PAAC, UTech said its last audited financial statement for 2014/2015 showed that there was an operating deficit of $288 million compared with $210 million in the previous year.

A deficit of $13 million is projected for this financial year.

Speaking at the installation ceremony of Richard Powell as UTech’s Pro-Chancellor yesterday afternoon Reid said he will be working with his opposition counterpart and the university administration to turnaround the institution.

 

Education Minister Ruel Reid

Meanwhile, the education minister thanked Powell for accepting the invitation to serve as UTECH’s Pro-Chancellor and pledged his support as the university goes through a difficult transition period.

Powell will serve as Pro-Chancellor until 2019.

He replaces Vivian Crawford who had held the post since 2012.