Page 4 - Privatisation Act News Today

President William Ruto has backed a push to sell parastatals without the approval of Parliament.

The office that advises MPs on budget planning estimates that Kenya could earn between Sh60 billion and Sh110 billion by selling stakes in public firms.

A new Privatisation Bill seeks to allow the Treasury to exclude Parliament from approving the sale of State-owned firms.

The proposal for the sale of public assets by the Executive without proper oversight by Parliament raises questions.

Direct sales of government assets under the privatisation programme will now be opened to public tendering.

Bosses leading State firms earmarked for privatisation risk unspecified penalties for frustrating the transfer of such entities to private hands.

The move will benefit both taxpayers and private economic players if done in the right manner.

NAIROBI, Kenya, Oct 11 – The Kenyan government is seeking to increase the number of listed State Owned Enterprises at the Nairobi Securities Kenya breaking news | Kenya news today |

“The government has no business running a business, but I have to concede to the wishes of the people not because it is right but because it is politically correct.”

Gov. Ben Ayade declared on Thursday in Calabar that he would not privatise any of the 34 Cross River-owned companies in recognition of the choice of the people. | Pulse Nigeria