President Ruto backs push to sell parastatals without MPs’ approval

President William Ruto has backed a push to sell parastatals without the approval of Parliament, in a law change that will give the Treasury unchecked powers in the privatisation plan.

The Cabinet on Tuesday approved the Privatisation Bill, 2023, which gives power to the National Treasury to privatise public-owned enterprises without the approval of Parliament, describing an early process seeking the legislators’ nod as “bureaucratic.”