Treasury to wind up idle colonial era funds

Treasury to wind up idle colonial era funds
Tuesday June 01 2021
By EDWIN MUTAI
In 2013, the Treasury disclosed to Parliament that it was holding Sh802 million in six dormant accounts.
The Treasury has tabled the list of eight funds and asked Parliament to approve the dissolution of the inactive national government public funds.
Those set for winding up are the Provident Fund, Kenya Loans Support Fund, Pre-shipment Inspection Fund, Sinking Fund, the Government Coast Agency Fund, the Joint Consolidated Fund, the Treasury Main Clearance Fund and the Asian Widows and Orphans Pension Fund.
“The National Treasury now seeks the approval of the National Assembly to wind up the above national public funds in line with section 24(8) of the Public Finance Management Act, 2012,” Treasury Secretary Ukur Yatani said in a letter to the Clerk Michael Sialai.

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