×
The Standard Group Plc is a multi-media organization with investments in media platforms spanning newspaper print operations, television, radio broadcasting, digital and online services. The Standard Group is recognized as a leading multi-media house in Kenya with a key influence in matters of national and international interest.
  • Standard Group Plc HQ Office,
  • The Standard Group Center,Mombasa Road.
  • P.O Box 30080-00100,Nairobi, Kenya.
  • Telephone number: 0203222111, 0719012111
  • Email: [email protected]

Cabinet clears the way for selling of parastatals as MP denied say

Politics
 President William Ruto, his deputy Rigathi Gachagua and Prime CS Musalia Mudavadi and a host of Cabinet Secretaries during a past meeting at State House, Nairobi. [PCS]

Some parastatals could soon be sold off after the Cabinet approved the Privatisation Bill, 2023.

The Bill gives power to the National Treasury to privatise public-owned enterprises without Parliament's approval.

According to the Cabinet, the sale of non-strategic, non-performing public entities will help improve the upgrade of infrastructure and the delivery of services.

The privatisation, the Cabinet explained in its Tuesday session at State House, will also tame demand for government resources and generate more funds to drive development.

At the same time, the Cabinet has allocated Sh23.96 billion for the April to October 2023 period to counter drought effects.

The government noted that counties affected will slide into more severe situation due to the January-March dry season.

The Cabinet noted that the situation has been complicated by the rising insecurity in Turkana, Samburu, Baringo, West Pokot, Laikipia, Marsabit, Isiolo and Garissa counties.

It further allowed the National Treasury to engage the Director of Public Prosecutions and provide the relevant information on the public interest implications arising from the huge financial exposure of Government arising from its unmet obligations in respect of the Commercial and Financing Agreements for the three dam projects to facilitate a stay of the ongoing international arbitration proceedings and a negotiated commercial settlement.

The Cabinet also approved the restructuring of the Government's outstanding debt service obligations under the Financing Agreements for the Arror, Kimwarer and Itare dams.

The top decision-making body reinstated the mandate, functions and operations of the Technical and Vocational Education & Training-Curriculum Development Assessment and Certification Council (TVET-CDACC).

This means TVET-CDACC will now be tasked with the designing and development of learner-centred, demand-driven curricula for the training institutions, examination, assessment and competence certification.

The Cabinet also approved the establishment of the National Alternative Dispute Resolution Policy to decongest the courts.

Related Topics


.

Popular this week

.

Latest Articles

.

Recommended Articles