MONday, APRIL 11, 2016 | www.x254.co
3
Kidero orders closure of factory over foul smell Governor says numerous complaints from area residents and subsequent investigations prompted his action to shut down Prosoya limited which is located along enterprise road
15
NEWS
Misfiring Gor mahia held to a barren draw by ushuru at nyayo stadium
Striker Divork origi scores twice as liverpool thrashes stoke at anfield
Banks’ reprieve as CBK rolls out fund to cushion liquidity T
he Central Bank of Kenya (CBK) has set aside a facility to cushion banks experiencing liquidity pressure in aim to restore depositors’ confidence. CBK Governor Patrick Njoroge said they are hoping to deal with fear and anxiety that are making depositors act in an irrational way that bring down institutions which are otherwise solvent. “From Monday, we will avail a facility to any financial bank or micro finance institution that comes under liquidity pressures arising from no fault of their own. We will avail it for as long as necessary to return stability and confidence to the Kenyan financial sector,” Dr Njoroge explained. “In terms of the amounts, it will be sufficient for the institutions to stand. We don’t have an upper or lower limit,” said the CBK boss when asked about the sum of the facility. CONTINUED ON PAGE 2
Central Bank of Kenya Governor Patrick Njoroge. He has announced the setting aside of cushion money for banks experiencing liquidity to cushion them from collapse.
www.x254.co
Why doctors are quitting medical service At least 2000 medical doctors have quit public healthcare service over the last three years, the Kenya Medical Practitioners, Pharmacists and Dentists Union (KMPPDU) has said. The union’s national chairman Ouma Oluga has attributed the trend to sidelining by both the county governments and the national government. According to Dr Oluga, both governments have not reviewed the scheme of service for doctors and that their members have also been locked out of civil servants comprehensive medical scheme. “KMPDU members do not enjoy emergency allowances, medical schemes, mortgage and car loans as other civil servants do,” Dr Oluga said. He argued that these grievances and frustrations by the two levels of government are to blame for the resignation of more than 2000 medical doctors as well as strikes by health workers in many counties. “We are graded in the same job groups like other civil servants. We are paid low salaries just like other civil servants but when it comes to developments that benefits, medics are denied, we are locked out,” he argued. The union also pointed out on the need to review the doctors’ schemes of service explaining that the document was last revised in 1994. CONTINUED ON PAGE 2