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Ndung'u: Privatising parastatals meant to address corruption

Treasury CS Njuguna Ndungu (right) and PS Julius Muia during a past presser. [Boniface Okendo, Standard]

National Treasury Cabinet Secretary Njuguna Ndung'u has defended the government's plan to privatise key parastatals saying the move will end corruption and mismanagement of the entities and return them to profitability.

Prof Ndung'u, who spoke in Mombasa yesterday said some of the parastatals are draining the exchequer which is forced to bail them out whenever they are in financial problems.

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