Nairobi — The Kenyatta International Convention Centre (KICC) is among eleven State Corporations listed for privatisation even as the National Treasury is seeking public views on the exercise.

Also to be privatised include theKenya Literature Bureau (KLB), National Oil Corporation of Kenya (NOCK), Kenya Seed Company Limited (KSC), Mwea Rice Mills Ltd (MRM), Western Kenya Rice Mills Ltd (WKRM) and Kenya Pipeline Company Limited (KPC).

Other state corporations in the exercise are the New Kenya Cooperative Creameries Limited (NKCC), Numerical Machining Complex Limited (NMC), Vehicle Manufacturers Limited (KVM) as well as Rivatex East Africa Limited (REAL).

In a statement, Treasury Cabinet Secretary Njuguna Ndungu stated that the move to privatize the eleven government parastatals is anchored on the government efforts to scale up economic development in the country.

"The National Treasury and Economic Planning has prepared the 2023 Privatization Programme in accordance with the Privatization Act 2023. The Programme can be accessed from The National Treasury website. Further, privatization and restructuring is geared towards Government's efforts for fiscal consolidation and spurring economic development through Raising of additional revenue," he said in a notice.

According to the government, the move to privatize its listed state corporations is anchored on its efforts for fiscal consolidation and spurring economic development through raising of additional revenue, reducing the demand for Government resources as well as Improving regulatory framework in the economy by unbundling regulatory and commercial functions among some entities.

It avers that the move will Improve efficiency in the economy by encouraging more private sector participation hence make the economy more responsive to market force and competitions.