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Kimani Ichungwah Pokes Holes in Gov't Appetite for Loans, Reveals What Ailing Private Sector

Over the past few weeks, discussion on Kenya's public debt has been the centre of discussion across the country.

This is after International lender agency IMF approved Kenysns loan of Ksh 256 Billion that has made Kenyans descend on IMF requesting it to stop loaning the already crambling and over burdened country.

Legislators have not been left out on the discussion of the said loan. A few days ago, Kikuyu member of Parliament Kimani Ichungwa disclosed that he was removed from the Parliamentary Budget Committee (PBC) chairmanship for hosting a meeting with the IMF team without informing the top leadership.

Yesterday, Kimani further disclosed that the Private sectors in the country continues to crumble because government has enacted and made policies that have blocked them from accessing credits.

"The debt mix between Domestic & External debt is a Story for another day. Find out how policy decisions & influence peddling have crowded out the private sector from accessing credit,who the REAL BENEFICIARIES are and how this has further compounded our debt & revenue crisis." Kimani tweeted.

To him lack of private sectors from accessing credits has become the main reason that the country is not able to attain its own revenue as this reduces the revenue pool.

Recently, many private entrepreneurs have headed up closing their business due to lack of finances to run or shifted to the neighbouring countries.

Kenya revenue crisis has continued to increase as the taxman himself that is Kenya Revenue Authority (KRA) has been hit by major setbacks owing that for sometime now it has not been able to achieve its financial year revenue collection targets for some years.

This probably as lead the taxman to come up with more strategies in increasing its revenue collection such as introduction of minimal tax and digital Service Tax.

Content created and supplied by: TheKamams (via Opera News )

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