Dar es Salaam. The Higher Education Students'
Loans Board (HESLB) has recovered a total of Sh216 billion out of Sh427
billion in the financial year 2016/17.
Addressing
reporters on Tuesday in the city HESLB Director General Mr Abdul-Razaq
Badru said the money was collected from 139,259 beneficiaries from
formal and informal sectors.
He said the target was to collect at least 40 per cent of the Sh427bn.
According
to him 65 per cent of the amount recovered was from public institutions
and the remained 35 per cent was from private sector.
"The
collections from central government amounted to Sh12bn, local
government Sh97bn while public institutions and agencies paid Sh31bn,"
he said.
According to him, the success is due
the cooperation from employers who have been observing the law, which
requires the dedication of 15 per cent from the basic salaries of their
employee
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