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{
    "id": 588803,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/588803/?format=api",
    "text_counter": 39,
    "type": "speech",
    "speaker_name": "Hon. Wangwe",
    "speaker_title": "",
    "speaker": {
        "id": 2543,
        "legal_name": "Emmanuel Wangwe",
        "slug": "emmanuel-wangwe"
    },
    "content": "The university is experiencing a financial crisis of unprecedented proportions. Currently, the institution is operating with a huge deficit to the tune of Kshs2.6 billion and a bank overdraft of Kshs500 million monthly to pay salaries. In addition, the university is unable to honour remittance of its statutory deductions. The state of affairs is against the principles of the Public Finance Management (PFM) Act, 2012. I urge you to require the Departmental Committee on Education, Research and Technology to urgently investigate the following financial issues and report to this House for consideration:- (a) The circumstances which led to the university to incur such huge expenses, including capital expenditure, and enter into such large deficits to a point of almost being technically insolvent. (b) Whether the borrowing obtained necessary approval."
}