Government explains why KICC is listed for privatisation after uproar from Kenyans.
Through the Treasury, Government explains why KICC is part of the 11 parastatals that they have listed for privatisation after uproar from Kenyans.
KICC which has been there since 1973, has really brought up mixed reactions from concerned Kenyans.
Notably, concerned stakeholders alleged that the move to sell KICC was politically driven, considering that it recorded good performance in terms of finances and management in recent years, as per Treasury documents
The treasury explained that one of the reasons why it is being sold is because of the competition from privately owned facilities and revenue collection strategy. They further cited that at the moment, KICC is in competition with privately owned companies that have services both on the national and international platform.
The communique read,”KICC operates in a mature and competitive market sector with other private sector players offering similar services locally and regionally.”
“Privatisation of KICC will generate additional revenue for the government and reduce the demand for exchequer support,” the communique added.
However, the government has scheduled a countrywide public participation drive for December 11 before the privatisation programme is fully implemented.
The statement read,”Privatisation and restructuring are geared towards the government’s efforts for fiscal consolidation and spurring economic development through the raising of additional revenue.”
“It is also geared towards reducing the demand for government resources among many demanding and competing needs,” read part of the statement.
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