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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.

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