Ruto orders state corporations to remit 80 per cent of their profits after tax to national treasury

President William Ruto has ordered state corporations to remit 80 per cent of their profits after tax to the national treasury. Ruto was speaking at a meeting with heads of parastatals at state house Nairobi, where he ordered that parastatals’ budgets be cut by 30 percent. The president has warned that loss-making parastatals will be shut down and their employees transferred to other state agencies.