Reforms will also affect government-linked corporationscompanies in which the government shareholding is less than 50 per cent.
More than 130 state-owned enterprises are set to be scrapped or merged in a planned restructuring that is expected to result in massive job losses.
The National Treasury has indicated that only 158 of the 288 parastatals that have undergone assessment to ascertain their viability will be retained.
Treasury Cabinet Secretary Njuguna Ndungu said 41 State corporations, some with duplicating or overlapping mandates have been proposed for mergers. A further 25 corporations have been proposed for winding up and transfer back to the ministries or relevant corporations.
In line with the government efforts for fiscal consolidation, the National Treasury has undertaken a preliminary assessment of 288 State corporations to determine their viability and or recommend necessary action, Prof Ndungu said in a summary report on the 2024/25 Budget Estimates tabled in Parliament on Tuesday.
More austerity measures for State corporations announced Government bodies told to re-submit adjusted budgets.
Government kicks off sale of Sunset Hotel, four other State hotels Existing shareholders will be given priority in the disposal. President Ruto defends KICC privatisation The building in the heart of the capital is one of several state parastatals earmarked for privatisation, a move that has caused a furore.Its free!
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