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