The Ministry of Finance is exploring the placement of the $200 million Housing Revolving Fund, established in 2011 to allow teachers to access low-rate home loans, under the management of the Student Loan Agency, Finance Secretary (FS) Hector Butts stated yesterday.
It has been seven years since former Minister of Education Shaik Baksh would have announced that loans could be accessed from the $200 million fund, but according to the Auditor General’s report, no disbursements have yet been made.
Butts, during the Ministry of Education’s appearance before the Public Accounts Committee (PAC) of Parliament yesterday, told members that while an account for the fund exists, the ministry is currently looking at the logistics – that is,
