The Treasury's decision to convert a Sh24 billion government debt held by Kenya Airways into equity has been called into doubt by Parliament, alleging procedural problems.
The National Assembly's Public Accounts Committee (PAC) has summoned Treasury Cabinet Secretary Ukur Yatani to provide information on the debt swap agreement and how the State's stake in KQ was recorded in government accounts.
After the State and domestic lenders agreed to convert debt into equity, the Treasury acquired 19.1 per cent interest . . .