The National Treasury did not use KSh 9.7 billion accumulated under the Kenya Covid-19 Emergency Response Fund since March 2020
Auditor-General Nancy Gathungu noted that the fund has been in existence for two years without any expenditure originating from it.
The fund was meant to contain the spread of COVID-19 and cushion Kenyans from the economic effects of the pandemic
Whereas Kenyans are feeling the heat of high cost of living, it emerged that the National is holding over Sh 9.7 billion meant to cushion citizens from Covid-19 fund pandemic
This is has been revealed by the office of Auditor General Ms Nancy Gathungu, on Monday 20th June, that the treasury has not utilised the fund accumulated under the Kenya Covid-19 Emergency Response Fund since March 2020.
“Although the funds has been in existence for more than two years, with total accumulated receipts of Sh 9,700,586,977, no expenditure has been incurred since the inception of the Fund.
This is despite the fact that the Fund was created to alleviate kenyans from rampaging effects of the Covid-19 pandemic,” Madam Gathungu noted
Gathungu noted that out of the KSh 9.7 billion, KSh 9.3 billion was stashed at the Central Bank of Kenya while KSh 6.98 million is held at the National Bank of Kenya (NBK).
“Fund has therefore been an accumulation of non-interest earning funds. These funds did not realise value for money as the resources remain held idle while the citizens suffer from the scourge,” She added
This comes in a recent weeks after the Cabinet Secretary Ukur Yattani announced that the government can not afford sustaining subsidies for the petroleum related products thereby increasing the cost of petrol, diesel and kerosene
So, the one million dollar questions, boggling in the minds of kenyans is, why are they keeping the monies which was meant for cushioning kenyans, while we are remaining forty eight days to general election