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"content": "Thirdly, we need to modernise, so that we can integrate to mainstream other products that currently are not being produced in our sugar factories. At the moment, the majority of our sugar factories just crush cane and produce sugar. They can produce other products like ethanol, coal and other products that would help to improve the competitiveness of our sugar factories. It is also our intention to bring on board the private sector for purposes of professional management and divest Government shareholding. The policy direction on privatisation, which we have told the people in charge of privatisation, we be reducing the cost of production, diversifying revenue streams from integrated enterprise, with a strong business case during privatisation, increasing sugar and sugar-cane production and productivity, expanding and modernising of existing sugar mills, expanding production under irrigation and other potential areas, improving governance and efficiency in the industry and diversifying the product base. Mr. Temporary Deputy Speakers, Sir, lastly, I want to inform the House that we have made tremendous progress. This process of privatisation is ten years behind schedule, but the good news is that it has now started in earnest. A road map for the financial restructuring and privatisation of step-on mills was developed with stakeholders in 2008 by way of a Draft Cabinet Memo and Sessional Paper. On 8th December, 2008, the Cabinet approved and placed on a priority list, the privatisation of five sugar mills, namely Chemilil, Miwani, Muhoroni, Sony Sugar and Nzoia. On 20th May, 2009 the Privatisation Commission signed a contract for transaction advisory services with Ernest and Young, in consortium with Standard Investment Bank, Murii, Mungai & Company Advocates, Wage and Management, Kemboi & Company Advocates, and Emineo & Fluriskeli. The contract is for 20 months, and the contract sum negotiated by the Privatisation Commission is Kshs89,791,240. We have organised that tomorrow, there will be a kamukunji for the Privatisation Commission, the Kenya Sugar Board and the transaction advisors to come and brief Members of Parliament on the steps that will follow between now and when the exercise will be concluded. Thank you, Mr. Temporary Deputy Speaker, Sir."
}