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University Education in imminent jeopardy- CaFFE

24 June 2018 11:55 pm - 6     - {{hitsCtrl.values.hits}}

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There would be a negative impact on the University Education in the long-run because of the Rs. 1 billion worth of funds of the University Grants Commission (UGC) that had been invested in the controversial bond transaction, Campaign for Free and Fair Elections (CaFFE) said.

Executive Director of CaFFE and Centre for Human Rights and Research (CHR) Keerthi Tennakoon told the Daily Mirror that Rs.146 million loss had been incurred by the UGC on account of the said transaction.

“It has been estimated that 42 per cent of the 2017 Expenditure Estimates of the UGC had been invested in Central Bank Bonds.

“Even though, the Minister of High Education had said that the loss caused to the UGC due to the bond transaction was Rs.141mn, the actual loss is Rs. 146mn and even this might exceed,” Tennakoon said.

“It was questionable as to who gave the endorsement to go for such massive investments that have caused colossal loss to the University education. These mega transactions have made the future higher education uncertain,” Tennakoon added. (Sheain Fernandopulle)

  Comments - 6

  • Ashi Monday, 25 June 2018 06:40 AM

    You talk about everything. What is your scope Mr.Cafee ?

    Vish Monday, 25 June 2018 12:51 PM

    Shoot the messenger

    Sumanudage Monday, 25 June 2018 07:13 AM

    Students suffer without hostels, library facilities, qualified teaching staff and numerous other necessities. These people in power play games with public money. They were appointed not to invest money on hedge funds. But to run universities to be able to provide a quality education. What a disgrace?

    Dee Monday, 25 June 2018 07:21 AM

    The loss to the nation because of strikes and extended graduation period coupled with the free education doled out is much more than any scam.

    Keyth Monday, 25 June 2018 07:32 AM

    What is the relationship between CoFFE and higher education Ho can univyprovident fund investment affect university education Please explain as we uneducated cannot understand your logic

    Kusum Monday, 25 June 2018 11:48 AM

    Any bull could rob funds from Higher education and Highways


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