Raila says privatisation of KPC to increase fuel prices hundredfold » Capital News

NAIROBI, Kenya, Nov 28 – Azimio La Umoja One Kenya leader Raila Odinga has told off the government over the privatization of State Corporations.

Odinga who was speaking in Kisii during the ongoing Orange Democratic Movement (ODM) activation drive averred that state corporations should not be left in private hands.

“Now they have announced that they want to start selling to state corporations. One of such corporations is the Kenya Pipeline Corporation. If it goes into private hands, fuel prices will escalate by a hundred folds .KPC is a strategic investment that should not be sold under any circumstances,” he said.

The Treasury had this week listed 11 state corporations for privatization. Among the listed corporations include the Kenyatta International Convention Centre(KICC) .

Also to be privatized include the Kenya Literature Bureau (KLB), National Oil Corporation of Kenya (NOCK), Kenya Seed Company Limited (KSC), Mwea Rice Mills Ltd (MRM), Western Kenya Rice Mills Ltd (WKRM) and Kenya Pipeline Company Limited (KPC).

Other state corporations in the exercise are the New Kenya Cooperative Creameries Limited (NKCC), Numerical Machining Complex Limited (NMC), Vehicle Manufacturers Limited (KVM) as well as Rivatex East Africa Limited (REAL).

According to the government, the move to privatize its listed state corporations is anchored on its efforts for fiscal consolidation and spurring economic development through raising of additional revenue, reducing the demand for Government resources as well as Improving regulatory framework in the economy by unbundling regulatory and commercial functions among some entities.

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