Treasury to clear Ksh 149B pending bills from July

Suppliers owed by the government will be paid Ksh 149 billion at the start of the next financial year, Treasury has said.

National Treasury Principal Secretary Dr. Chris Kiptoo says the amount is part of the Ksh 206 billion cleared for payment by the Pending Bills Verification Committee.

The Pending Bills Verification Committee flagged Ksh 264 billion worth of claims for payment for lacking proper documentation.

To avoid scenarios when pending bills pile to billions of shillings, Kiptoo says bidding and awarding of government tenders will be done online beginning the next financial year.

He further pledged to avail funds for tax refunds to improve liquidity in the private sector.

Reduction of coupons on government papers is among ways he says Treasury plans to implement to increase liquidity and entice banks to increase lending to businesses.