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Ruto raids cash rich parastatals, threatens to shut down loss-making entities

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President William Ruto during a meeting with Parastatal heads and CEOS at State House. [PCS]

President William Ruto's cash-strapped administration plans to raid cash-rich parastatals for additional billions from levies and fees to fund his second full-year budget, which is set to cross the Sh4 trillion mark for the first time.

The radical move could lead to a fresh round of job losses, according to parastatal bosses and union leaders who spoke to The Standard on condition of anonymity yesterday.

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