MPs Question KPC Privatization, Call for Action on Wastage and Mismanagement First
Members of Parliament have urged the government to focus on tackling wastage and mismanagement of public funds before moving ahead with the planned privatization of the Kenya Pipeline Company (KPC), a deal projected to raise Ksh120 billion.
The lawmakers expressed their concerns during a meeting with Treasury Cabinet Secretary John Mbadi, noting that while privatization could bring in new revenue, selling a profitable state corporation should not be the first resort.
On Tuesday, July 29, the Cabinet approved plans to list KPC on the Nairobi Securities Exchange (NSE). The proposal, fronted by President William Ruto, aims to attract both local and foreign investment by allowing Kenyans and private investors to buy shares in the company.
However, MPs argued that instead of selling stakes in strategic assets, the government should address inefficiencies and seal financial leakages within ministries, departments, and agencies. They warned that hasty privatization could mirror past failed listings, citing Mumias Sugar and Uchumi Supermarkets.
They recommended stronger fiscal discipline as a more sustainable alternative to disposing of self-sustaining, profit-making entities.
Treasury’s Position
CS Mbadi defended the proposal, describing it as a necessary step to raise funds for key development projects and avoid budget delays.
“Raising taxes at this point is not an option,” Mbadi said, adding that privatization would create fiscal space without overburdening taxpayers.
He also assured MPs that reforms were underway to curb wastage, including e-procurement systems and stricter accountability mechanisms to ensure efficient use of public resources.
“These measures will go a long way in reducing unnecessary expenditure across government operations,” Mbadi stated.
The proposal has been tabled in Parliament and forwarded to the joint committee on Energy and the committee on Public Debt and Privatization. Lawmakers will now weigh Treasury’s fiscal arguments against the strategic importance of retaining government control over KPC.
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