The government has established Public Investment Management unit to enhance its efforts to curb duplication of projects that for long have served as conduits of corruption. The move also considers the government efforts at increasing efficiency, effectiveness, transparency, and accountability in public spending.
The overlapping programs within the government have caused loss and mismanagement of revenues allocated for development projects.
The unit established under the National Treasury will enable efficient identification and implementation of priority social and investment projects aimed at improving quality of life for Kenyans.
“In particular, the implementation of PIM regulations under the Public Finance Act will streamline the initiation, execution and delivery of public investment projects,” said the National Treasury, in its 2019 draft Budget Policy Statement.
It will also reduce runaway projects costs, a phenomenon that has characterized many development projects across the country.
Treasury notes shedding duplication of projects and cutting misspending within the government will save resources required to support fiscal consolidation program. This will reduce the fiscal deficit to 3.0 percent of GDP by 2022.
