President William Ruto’s plan to sell non-performing parastatals has met a financial setback after the Treasury failed to allocate the Sh1.7 billion needed to facilitate the floating of three initial public offerings (IPOs) in the financial year starting July 1.
The Privatisation Commission told Parliament that it would not be able to implement the President’s commitment to sell up to 10 public companies in the next 12 months, in the absence of budgetary support.
