Delivering his Medium Term Budget Policy Statement in Parliament yesterday, finance minister Trevor Manuel said a five-year term was envisaged to complete the process of consolidating the institutional landscape through the proposed mergers of higher education institutions.
"It is recognised that the restructuring is costly, and will involve both recapitalisation of individual institutions to ensure their financial stability and substantial direct merger cost".
The plan to reduce the country's 36 universities and technikons to 21, is outlined in the National Plan for Higher Education, announced by education minister Kader Asmal in March last year and approved by Cabinet in May this year.
The restructuring, according to a report by the SA Universities Vice-Chancellors' Association would cost an estimated R3,6-billion over five years.
Meanwhile, Mr Manuel said alongside the revitalisation of higher education, the budget framework provided for a steady rise in research and development funding in support of growth and technology advancement.
"The broader National Skills Development Strategy also seeks to improve the supply of high-quality skills to industry and enhance productivity across the economy". - BuaNews
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