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Nairobi County Assembly has raised concern over 2.1 Billion shillings loan requested by Nairobi City Water and Sewage Company saying the PFM laws have been flouted by County Government of Nairobi.
The water company is seeking Assembly approval of 2.1 billion shillings loan which has been negotiated with Laptrust Fund to settle workers’ pension.
“No rubber-stamping this time round they must tell us why they want to borrow without following laws.The PFM Act section 142 is very clear that you can only borrow 5% of you recent collection which translates to 600 million shillings.” The session chair Moses Ogeto told the media
Meanwhile County Finance CEC Charles Kerich was at pain to explain why he approved the said loan without adhering to sec 142 of the PFM Act.
“The buck stop with him.We don’t understand why Kerich allowed such to pass without following the laid down laws.We shall not be used as puppets ….our job is oversight.” Ogeto added.
Nairobi Water is in debt mess with the entity going for the 2.1 billion loan to settle workers’ pension.”Ogeto added.
