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Former KEMSA chairperson Irungu Nyakera has cautioned the government against its plan to sell a majority stake in the Kenya Pipeline Company (KPC).
Nyakera, referencing the 2007 privatisation of Telkom, when the government sold a 51 per cent stake to France Telecom for Sh26 billion, only for it to be bought back at a loss, stated: "KPC is not an ordinary parastatal," he said. "It controls the transportation and storage of petroleum products in Kenya. Selling it in a hurry poses immense risks, including ceding control of the country's energy backbone."
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