NAIROBI, Kenya, Jan 24 – The Privatisation Commission will soon be disbanded if a new draft Privatisation Bill of 2023 is implemented.
The National Treasury and Economic Planning and the Privatisation Commission have invited members of the public to submit their views on the draft Privatisation Bill, 2023.
It recommends the removal of the current Privatisation Commission and to be replaced with a Privatisation Authority.
“There is established an Authority to be know as the Privatisation Authority,” the draft Bill reads in part.
It will advice the Government on all Privatisation plans, implement specific privatisation proposals, collaborate with other organisations in Kenya and abroad as well as perform any other functions under the Act.
Under the Act, the Authority will be managed by a Board led by a Chairperson appointed by the President.
Others include Principal Secretary to the National Treasury, the Attorney General, the Managing Director of the Authority, among others.
“The chairperson and members of the Board appointed under subsection (1) (e) of three years and may shall hold office for a term be eligible for reappointment one further term of three years,” it added.
The Privatization Commission is established as a corporate body under the Privatization Act, 2005.
The mandate of the Commission is to formulate, manage and implement Kenya’s Privatization Programme.
The Programme consists of the list of investments and assets approved for privatization under the Privatization Act.
“The Authority shall be the successor to the Commission existing commencement of this Act,” it said.
Public participation of the Bill will be done in Eldoret, Mombasa, Kisumu, Nyeri, Garissa, Machakos and Nairobi from January 21st to February 7, 2023.
