×
App Icon
The Standard e-Paper
Kenya's Bold Newspaper
★★★★ - on Play Store
Download Now

State raises Sh66 billion from parastatals for budget

Acting Treasury CS Ukur Yattani (PHOTO: FILE)

Treasury has raised Sh66 billion out of a target of Sh78 billion in dividends and retained earnings from state corporations, the acting finance minister said on Wednesday.

Ukur Yatani said state companies had not been remitting their dividends at the end of every financial year as required by law, denying domestic reports that the move to take the cash would starve the banking sector of liquidity.

Get Full Access for Ksh299/Week
Uncover the stories others won’t tell. Subscribe now for exclusive access
  • Unlimited access to all premium content
  • Uninterrupted ad-free browsing experience
  • Mobile-optimized reading experience
  • Weekly Newsletters
  • MPesa, Airtel Money and Cards accepted
Already a subscriber? Log in