The Ministry of Finance has begun the process of releasing a whopping amount of GH?60,763,205.33 to the various Colleges of Education in the country.

The amount represents the balance outstanding of the 2015/2016 and 2016/2017 feeding fees for the Colleges of Education.

A letter signed by the Chief Director of the Ministry of Finance, Patrick Nomo, dated April 21, 2017, and addressed to the Chief Director, Ministry of Education (MoE) and copied the Minister of Education, a copy which has been sighted by Kasapafmonline.com, has directed the MoE to initiate the transaction on the GIFMIS platform as demanded by the Public Financial Management Act 2016, Act 921 Section 25 (6) and 98 (1) (b).

This is to enable the Finance Ministry process the request the MoE made on March 29, 2017 concerning the feeding fees to the Colleges of Education.

Our sources at the Finance Ministry say should the MoE activates the transaction on the GIFMIS as directed, it will not take more than a month for the amount to be released to the Colleges of Education.

The Colleges of Education are heavily indebted to their service providers, many of who have threatened to cut supply should they fail to pay by the end of December 2016.