[PHOTOS] Ruto meets parastatal heads, CEOs at State House

President  William Ruto on Tuesday hosted Parastatal Heads and CEOs of various institutions.

State House press secretary Emmanuel Talam told the Star that the meeting will focus on budget cuts and planned privatization of some institutions.

In November last year,  Ruto announced that his government was ready to privatise 35 state companies "trapped in government bureaucracy" in a bid to boost productivity following a change to laws.

A month earlier, Ruto’s government signed a revised privatisation bill into law that makes it easier to sell state enterprises to private companies.

The revised law aims to push up the private sector's participation in the economy, the presidency said at the time of the signing.

As a result, the Cabinet last month approved the sale of seven more State-owned enterprises following a meeting chaired by President  Ruto at State House in Nairobi, bringing the total number of entities set to be privatised to 17.

According to the cabinet, the move was expected to stimulate the expansion of the country’s hospitality industry and grow individual units through private-sector investment.