Public Investments Committee Chairman Adan Keynan. The public watchdog plans further grilling of KIE top managers [PHOTO: FILE/STANDARD] |
By JAMES ANYANZWA
Kenya Industrial Estates (KIE) top managers was on Tuesday unable to defend the institution’s underperformance before a parliamentary watchdog committee.
They instead asked for one more week to put their account records in order. This came as the Public Investments Committee (PIC) questioned the suitability of the officials to continue holding office in an institution, which they said is grossly mismanaged.
The committee noted that KIE had turned out to be a cash-cow for some individuals who took loans and never repaid.
The committee observed that about 90 per cent of the institution’s loans were non-performing.
“This institution has myriad problems. They have been making losses since 1999. Are they really worthy to be in that office,” queried Beatrice Nyaga, a member of the PIC and MP for Nithi constituency.
KIE’s managing director Julius Mokogi was at pains to explain some of the institution’s accounts saying he had been out of office on leave and that he needed more time to prepare a response.
Further grilling
But his reply did not go down well with members of the watchdog committee who questioned if the institution had stopped functioning due to the MD’s absence. “We are just dealing with audit issues which should be at your fingertips. I find your request a bit strange,” said Funyula legislator Paul Otuoma.
PIC issued a one-week ultimatum for management to appear for further grilling.
The Chairman Mr Adan Keynan said the institution is embroiled in many problems and a report regarding its performance is expected before parliament.