Ruto instructs ministries to reduce budget by 10%

 

Ruto instructs ministries to reduce budget by 10%

 

President William Ruto has issued a directive for ministries to reduce their budgets by 10% for the fiscal year 2023/2024, aiming to align expenditures with available resources amidst global economic challenges.

During a cabinet meeting at State House, Nairobi, President Ruto underscored the importance of prudent resource utilization, emphatically stating that both wastage and corruption would not be tolerated within the government.

The Head of State also issued a caution to government officials attempting to circumvent the use of a unified payment system, highlighting the importance of enhanced oversight.

In an effort to mitigate price fluctuations, it was decided that the government would allocate Sh4 billion to procure maize directly from farmers.

The Cabinet acknowledged the importance of assisting farmers in the drying and storage of produce to alleviate post-harvest losses.

Furthermore, the Cabinet endorsed the Gambling Policy, 2023, the Gambling Control Bill, 2023, and the National Lottery Bill, 2023, for submission to Parliament.

These bills are designed to establish a framework for reshaping the gambling industry into a positive force for social advancement.

Their objectives include enhancing regulation, addressing concerns related to high taxation, and leveraging technology for the development of a responsible and thriving sector.

In another notable decision, the Cabinet has given approval for the immediate partial lifting of the moratorium on issuing new mineral rights specifically for industrial and construction minerals.

The phased lifting of this moratorium is seen as a strategic move to develop methods for their exploitation, with a focus on ensuring that the benefits accrue to the Kenyan population.

This decision is in harmony with the Bottom-Up Economic Transformation Agenda, which seeks to legitimize artisanal mining.

Moreover, during the meeting, mineral smuggling was declared an economic crime, and the establishment of a dedicated special unit for compliance and enforcement against illegal mining and mineral smuggling was approved.

The Cabinet also approved the construction of a new stadium with a capacity of 60,000 in anticipation of the Africa Cup of Nations in 2027.

Furthermore, plans for renovations at the Moi International Sports Centre-Kasarani, Nyayo Stadium, and Kipchoge Keino Stadium in Eldoret are also in progress to ensure preparedness for the continental tournament.

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