Wednesday, December 4, 2024 - The government of President William Ruto has reiterated its commitment to revamp infrastructure in the country with the controversial Indian conglomerate Adani Holdings.
In a statement, Principal
Secretary (PS) for the State Department of the National Treasury Chris Kiptoo
said the government is fully committed to adopting public-private partnership
(PPP) models to finance the country's mega infrastructure projects, despite the
Adani debacle.
This is after Ruto cancelled
Adani deals with the Jomo Kenyatta International Airport (JKIA) and the Kenya
Electricity Transmission Company (KETRACO), leaving PPPs in jeopardy.
However, Kiptoo clarified that
the government was still exploring alternative public-private partnership (PPP)
models.
This, according to Kiptoo, was
because of the simple fact that the country’s fiscal position is untenable,
making it impossible for the government to finance key projects by itself.
The other option would have been
to review the country's tax policy, but that already proved impractical after
the explosive anti-Finance Bill protests in June and July 2024.
While appearing before the
National Assembly’s Public Accounts Committee (PAC) on Monday, Kiptoo further
highlighted the need for an upgrade of Kenya's busiest airport JKIA, which has
experienced busier days in recent years.
According to the PS, the amount
required for a project as huge as upgrading an international airport cannot be
raised through the national budget.
The Kenyan DAILY POST
Go and Subscribe to our YouTube
Channel and get the best videos around the country, go HERE>>>
0 Comments