ODM leader Raila Odinga endorsed government efforts to privatize the Kenya Pipeline Company during Monday's Parliamentary Group meeting. President William Ruto had announced plans in July for listing KPC shares at the Nairobi Securities Exchange pending legislative approval. The High Court blocked these privatization efforts on August 15 following a petition from the Consumers Federation of Kenya. Treasury CS John Mbadi received praise from Raila for addressing asset sales during the session. Justice Bahati Mwamuye issued restraining orders preventing any share transfers until the court petition receives full consideration.
Raila compared the situation to Margaret Thatcher's response when Arabs sought British historical properties. He argued that the KPC infrastructure remains permanently within Kenya regardless of ownership changes. The former Prime Minister emphasized how privatization proceeds could fund national investments rather than increase borrowing. KPC maintains profitable operations while serving as a vital component of Kenya's energy distribution network. Government officials believe private investment would modernize operations and establish regional energy leadership.
Raila compared the situation to Margaret Thatcher's response when Arabs sought British historical properties. He argued that the KPC infrastructure remains permanently within Kenya regardless of ownership changes. The former Prime Minister emphasized how privatization proceeds could fund national investments rather than increase borrowing. KPC maintains profitable operations while serving as a vital component of Kenya's energy distribution network. Government officials believe private investment would modernize operations and establish regional energy leadership.
