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I’m ready to bear the consequences, Ruto says on privatisation of state entities

President William Ruto

President William Ruto has defended his stance on the privatization of 11 state corporations and over three hundred public entities saying transforming the Nation will require difficult decisions whose consequences he is ready to bear.

According to the President, the proposal to privatize was made 10 years ago, and as the President there will be no turning back in making the bold and right decisions to transform the country.

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“We are spending billions of shillings sustaining companies. We have 350 public entities that just take money from the budget, we are supporting them. Some of them, nobody can tell you what they are doing,” Ruto stated.

“Some of those things we are going to make decisions and by the way a report was already done saying these companies, about 150 of them should be removed, that what they doing can be done by the private sector,” he added

The president who presided over the start of the Diaspora investment conference which opened in Nairobi, said he will not renege on plans to privatize non-profit-making state corporations and public entities.

The head of state said privatization will ease the country’s economic burden and end the culture of endlessly bailing out struggling entities.

The president hit out at leaders criticizing the plan faulting them for double speak.

According to Ruto transforming the country into a first-world country requires tough decisions which he will not shy away from making.

“It is a very difficult decision to make, but I will make the decision, I promise you. I will make the decision and take the consequences because Kenya must move. You can never go wrong by doing the right thing,” he stated.

At the same time, the head of state faulted those against Kenya Kwanza’s housing plan arguing the right to housing is not a reserve of a few.

Ruto also urged the Diaspora community to enhance their contribution to the development of the nation by fostering partnerships and seizing opportunities abroad.

According to the Central Bank of Kenya Diaspora remittances increased to 48.1 billion shillings in March 2023 a 15.5 percent growth from 41.7 billion shillings reported in the previous month.

Gladys Mungai
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