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So they are back, again. MPs eventually hacked into ensuring that the Executive pays them KES 9.3 million gratuity each. What's gratuity? It's money paid as a favuor or a gift in return for service.
On top of this, they will get retirement packages that include armed security guards, diplomatic passports, cars and domestic servants for their lifetime. In case you didn't read that well it reads: 'for their lifetime.' President Kibaki, whose salary is KES 700,000, will be given a cool KES 12.6 million lump sum pay for each term served in addition to KES 560,000 monthly pension, KES 161,000 worth of house allowance and KES 105,000 as entertainment allowance.
Generous send-offs are also in order for Prime Minister Raila Odinga, Vice President Kalonzo Musyoka, Speaker Kenneth Marende and Chief Justice Willy Mutunga. In total, KES 2.1 billion taxpayer money will be paid as gratuity to the 224 MPs, the Speaker and Attorney-General. Each of the MPs will be entitled to a KES 70,000 monthly pension calculated at 35% of their basic salary of KES 200,000. The lawmakers would also get a monthly house allowance of KES 30,000 for their lifetime.
The highest beneficiaries of this 'thing' will be the 42 ministers and the 52 assistants who will each receive a car, a driver, car maintenance expenses, armed bodyguards and diplomatic passports for themselves and their spouses, also for a lifetime.
So, as parliament dissolves next Tuesday, someone will get all that money. Guess who it is...Here's a hint; It's not you.
Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange
| Email: | hello@abacus.co.ke |
|---|---|
| Tel: | +254 792 753 774 |