Business Daily | by Edwin Mutai
The Treasury will be compelled to seek approval of Parliament before signing any loan contract worth more than Sh1 billion if MPs approve changes to the Public Finance Management Act, 2012.
The National Assembly’s Public Accounts Committee (PAC) says it was unable to establish who is in charge of the country’s loan book.
“The committee recommends that Section 50 of the PFM Act 2012 should be amended to provide that any borrowing by the national government for a project to the tune of Sh1 billion and above should be…
