President William Ruto has declined to sign the contentious Finance Bill 2024/2025 and returned it to parliament as he ordered for cost cutting measures.
Ruto said the Finance bill stands withdrawn despite having been passed by the parliament on Tuesday, followed by chaos that resulted in deaths and destruction of properties around the country.
Addressing the public from State House, Nairobi, Ruto backed by Kenya Kwanza MPs said among the cost cutting interventions will be in the public sector directing reduction of some allocations.
He said he has widely consulted and will be holding meetings with key stakeholders in a view to focus on the future.
“As the bill has been withdrawn and strategizing on how we shall chart forward I direct the Ministries, parliament, Judiciary and the county governments to embark on cost cutting measures,” said the head of state.
The President said he was looking for an opportunity with the youth in a bid to explain to them over the many opportunities existing in various sectors of the economy.
He spoke amid tension in the county following the deaths and destruction of properties across the country.