[Wilberforce Okwiri, Standard]CommentaryThe SFR is one of the few profitable and justifiably sustainable government entitiesThe Strategic Food Reserve (SFR) was established in 2015 and tasked with the responsibility of ensuring Kenyans have sufficient food stocks. The regulations governing the operations of the SFR are espoused in the Public Finance Management (Strategic Food Reserve Trust Fund) Regulations, 2015 (LN No 15 of 2015). Specifically, the fund was expected to stabilise the food supply levels and prices in the country, arrange for procurement, storage and sale of food commodities, maintain adequate strategic food reserves in physical stock or cash equivalent at any one given time and mobilise resources to support strategic food reserve-related activities. Treasury Cabinet Secretary Ukur Yatani, upon Cabinet approval and based on a recommendation of the Agriculture ministry, set the disbandment wheels in motion after publishing a legislation revoking the laws establishing the food reserve fund, “The Public Finance Management (Strategic Food Reserve Fund) Regulations, 2015. SEE ALSO: Clerics warn locals against roadside donationsThe proposed Public Finance Management (Strategic Food Reserve Trust Fund) (Revocation) Regulations, 2020, is now pending approval by the National Assembly.

Source: Standard Digital May 27, 2020 16:41 UTC