NSSF funds road construction projects

The Mountain Journal

editor@themountainjournal.co.ke

A legislator has cracked a whip into the Treasury over forcing  NSSF to divert workers’ contributions worth billions of shillings to fund road construction projects.

The fiery Kiharu MP Ndindi Nyoro, and a former budget and appropriation committee chairman revealed that the government had forced the NSSF to invest workers’ retirement package in the road construction projects, through the public private programmes, without approval of the parliament.

 Speaking at Mothers Union Hall in Murang’a, during a meeting with constituency bursary committees, said workers’ retirement package had been diverted to fund infrastructure projects without contributors’ knowledge.

He pleaded with the decision makers to stop seeking unnecessary debts, calling on them to wait for the resources collected by KRA for utilization.

“It is critical that billions of shillings entrusted with NSSF are not safe after the same was forced to fund infrastructure projects that the private constructors are not interested in,” said Ndindi.

He observed that Kenya’s external debt was at Sh11.3 trillion compared to the late President Mwai Kibaki Sh1.2 trillion in his 10 years.

“ The worst scenario is Sh175 billion borrowed secretly by the government, and after 10 years, the interest plus principal will be at Sh 300 billion. The amount was  borrowed guaranteed by the fuel levy fund at Sh7 per litre of  petrol,” said the MP.