Business NewsThis will give local contractors a key role in utilising the Sh172.4 billion set aside for infrastructure projects in the new financial year. The government is set to review contracting framework for infrastructure projects to boost the role of local contractors. This will give local contractors a key role in utilising the Sh172.4 billion set aside for infrastructure projects in the new financial year. In the infrastructure project, Sh18.1 billion was set aside for SGR Phase 2, Sh6 billion for the LAPSSET project and Sh5 billion for the Mombasa port development project. To ensure contribution to the maintenance of the country’s infrastructure, Yatani proposed introduction of a minimum tax payable by all companies at one per cent of their gross turnover.

Source: Standard Digital June 12, 2020 17:26 UTC