Treasury to spend Ksh 38B to bailout KQ, Kenya Power

The National Treasury is spending 38 billion shillings to bailout Kenya Airways, Kenya Power and universities. 

According to Treasury Cabinet Secretary Ukur Yatani, his ministry is seeking the approval of the National Assembly for an extra 126 billion shillings spent in this year’s budget. 

KQ has been allocated a chunk of the additional amount at Ksh 26 billion followed by expenditures on fuel subsidy that took up Ksh 24 billion. 

Allocation to Kenya Airways constituted the highest of the Treasury’s extra spending, most of which was drawn from a reduction in marine transport projects at 15 billion shillings. 

Universities are also set for a cash boost with the allocation of 8.5 billion shillings more to cater to their tuition expenses and for research. 

Yatani further wants MPs to okay 10.8 billion shillings spent on development partners’ funded projects in line with Article 223 of the Constitution.