Speaker of the Senate Ken Lusaka is urging the Executive to convene a crisis meeting to address the country’s shrinking economy. Mr Lusaka said the current lay offs by many companies across the country will results into chaos and protests.
Many companies are shutting down operations resulting to increased job loss and creation of militia and gang groups. He said the situation will soon catch up entire country and even the advantaged in top leadership will not be spared.
Lusaka is pushing for a candid discussion with the Executive, Judiciary and other stakeholders on what is ailing the country and come up with the right control and preventive measures. He pointed out at the close down Mumias Sugar, Nzoia Sugar and Portland Cement Companies as indicators that things are not well.
The speaker was speaking during the Second Senate Roundtable Workshop which brings together the private sector in Great Rift Valley Lodge in Naivasha.
he also stated that there is urgent need to address the issue of red-tae and bureaucracy that is deterring keen investors from putting their money in business.
Kenya Private Sector Alliance (KEPSA) chairman Nick Nespit on his attributed the increased job loss to high taxes, double taxation and lack of support from the government to improve the business atmosphere. He added that too much paper work and regulatory bodies are keeping investors away.