We will oppose parastatals privitization, says Raila » Capital News

NAIROBI, Kenya, Dec 1 – Opposition Leader Raila Odinga has vowed to oppose the move by the government to privatize 11 parastatals.

Odinga scoffed at President Ruto claiming he has failed to govern the country hence the wanton graft in different ministries and the increased cost of living.

“These people have failed that’s why there’s increased corruption and that’s why they want to privatize the 11 institutions. We know they want to sell them to their friends and we have told them we will oppose that,” he said in Shinyalu, Kakamega County.

National Treasury has set in motion the process of selling government shares in 11 state-owned enterprises in a bid to raise billions of shillings and free up cash it sinks in supporting operations at some of them every year.

The public have until December 11 to submit their recommendations on the planned sale of the SOEs.

The Kenyatta International Convention Centre (KICC) is among eleven State Corporations listed for privatization even as the National Treasury is seeking public views on the exercise.

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).

Azimio La Umoja lawmakers have mooted to oppose the Kenya Kwanza Alliance regime plans to privatize the institutions saying the country is taking the wrong trajectory.

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Lugari MP Nabii Nabwera decried the high cost of living in the country with no measures taken by the government to cushion Kenyans.

“We wont endorse things that have not been given a nod by the wananchi. Those issues must be brought to the wananchi through the referendum,” said Nabwera.

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.

It avers that  the move will Improve efficiency in the economy by encouraging more private sector participation hence make the economy more responsive to market force and competitions.

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