To modernise the urban commuter railway system, Treasury allocated Sh1.45 billion to link the Jomo Kenyatta International Airport to Nairobi’s Central Railway Station.
The Government expects that a new Private-Public-Partnership Bill will be debated and passed into law by Parliament to enable it overcome implementation challenges affecting most public sector investments.
Githae also proposed that supervision be enhanced for those financial institutions and commercial banks operating across the borders.
The idea is to cushion local commercial banks from events in other markets in the region where their subsidiaries operate. At the moment, the Central Bank is not able to supervise such operations.
Also on the list of winners in this year’s Budget is the Civil Service Pension Scheme, which has been allocated Sh15.1 billion effective from July.
Githae plans to write to the Central Bank Monetary Policy Committee to bring down inflation to between five per cent and seven per cent by June 30. Since the beginning of this year, inflation has dropped from a high of 18.31 per cent in January, to 13.06 per cent in April, and 12.22 per cent last month.
THE WINNERS...
FARMERS: Coffee, rice and sugarcane loans written off.
TEACHERS: Sh118 billion set for hiring of 10,000 additional teaching staff.
ICT: Tax on imported digital TVs removed to aid digital migration.
MITUMBA: Minimum payable tax on imported second-hand clothes slashed.
HIV/AIDS: Duty on importation of food supplements scrapped.
ORPHANS: Orphans and poor children to benefit from Sh1.1 billion bursary kitty.
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