Kenya: PBO urges government to privatize SEO’s
The Parliamentary Budget Office(PBO) projects government could raise up to Sh30 billion annually if it privatizes State-Owned Enterprises through government transfer of all or a part of its share ownership to the private sector.
The PBO in its explored budget options for the 2023/2024 financial year report provides policy options that the government can consider in order to achieve fiscal consolidation in a way that does not harm economic growth but will focus more on increasing productivity and efficiency in the use of resources.
The report further advised that privatization, if well executed, could become a source of revenue while at same time reduce costs and risks to the government.
“Privatization has the potential to create savings by substituting government expenditure for private capital and unlocking the potential of SOEs to increase their efficiency and long-term productivity,” it said.
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