President RUTO vows to shut down all parastatal firms making losses as he gives new directives – LOOK!

Tuesday, March 26, 2024 - President William Ruto has said all parastatal firms that have been making losses will be closed.

Speaking at State House on Tuesday when he met all parastatal bosses, Ruto said some agencies have been making losses for years and have become a drain on the economy.

“Now that the economy has stabilized, we cannot continue accumulating debt. Borrowing will only lead us down the cliff,” the president said.

On wastage in state corporations, the President said: “The money some parastatals make does not belong to their boards or management. It belongs to the people of Kenya as returns on investment.”

The President regretted that the abuse of public resources has become so rampant that it is inhibiting service delivery.

He directed that, from now on, government budgets and expenditures will be subjected to rigorous scrutiny.

“We will also leverage technology to check on improper payments and maximize the value for money,” Ruto asserted.

The Kenyan DAILY POST