Public universities insolvent, audit report shows

Kikuyu MP Kimani Ichungwa. While moving the motion at the National Assembly to adopt the PIC report, Ichungwah noted that State corporations in the education sector rely heavily on the exchequer to finance their operations. (PHOTO: COURTESY)

Public universities are struggling to meet their financial obligations, a report by the Public Investments Committee (PIC) shows.

The committee chaired by Aldas MP Adan Keynan interrogated audited accounts for the financial year 2013-14, which revealed most public universities reported negative working capital.