Agency seeks legal changes to hasten disposal of State firmsJoseph Koskey(Left) Executive Director CEO The Privatization Commission with Paul Otuoma(Right) chairman The Privatization Commission during an update on the privatization process. PHOTO:WILBERFORCE OKWIRIHands tied: Privatisation Commission has only concluded one deal since inceptionAgency seeks legal changes to hasten disposal of State firms Lengthy processes delaying Government exit with the risk of low returns. A review of the legal framework on privatisation of State firms is expected to clear some of the major hurdles that have held back sale of Government stake in the companies. The Privatisation Commission has cited the lengthy process required by the Privatisation Act in disposing of Government shareholding in the firms as a key challenge to executing its mandate. “Much as it (the lengthy approval process) is good to ensure transparency, it also holds back the privatisation process,” said the commission’s chief executive, Joseph Koskey.

Source: Standard Digital February 22, 2019 21:00 UTC