What the first Ruto-appointed Cabinet discussed

President William Ruto today chaired the first meeting of a Cabinet appointed under his regime which passed a number of resolutions.

Key among them is the amendment of the Petroleum Development Act and the construction of a fish processing and training facility in Kisumu.

The president chaired the Cabinet in State House urging cabinet secretaries to serve Kenyans in accordance with the law.

"In our hands lies the destiny of a nation, the hopes and dreams of her people, and the power to positively impact the lives of generations of Kenyans," Ruto said.

According to communication from the Office of the President, the cabinet approved the establishment of Kabonyo Fisheries and Aquaculture Service and Training Centre in Kisumu County. The project will cost over Sh1 billion.

"The centre will facilitate training, research, innovation, and best practices in Fisheries and Aquaculture through demonstrations and incubations".

On infrastructure, the Cabinet agreed to address outstanding bills owed to contractors in the road sector.

In addition, the Cabinet secretaries agreed to amend the Petroleum Development Act to allow the allocation of the Petroleum Development Levy to road infrastructure development.

"In the intervening period, the meeting approved a framework to settle all outstanding obligations owed to road contractors in the amount of Ksh. 92b through a bridge bond,"

As a result of the raging drought and humanitarian efforts to cushion Kenyans against the same, the Cabinet lauded the national and county governments for working together.

To address the high cost of living, the Cabinet approved the positioning of Kenya National Trading Corporation to stabilise prices.

"It was noted that KNTC will leverage on its infrastructure and capacity to help stabilise prices of all essential items in instances where price swings of essential items are abnormal and against the public interest,"

"KNTC will continue to partner with the National Cereals and Produce Board (NCPB) and local and regional financial intermediaries specializing in trade and commodity financing," said the statement.

The Cabinet also assessed the country's preparedness for national exams scheduled to begin later in the month.

According to Cabinet, the team behind the team conducting county hearings on the Competence-Based Curriculum will have a report by November 24.

The Cabinet also discussed the launch of the Hustler Fund in December 1, and agreed that it will target informal and unstructured businesses.

"The groundbreaking financial products to be progressively launched under the fund will include personal loans, micro loans, SME loans, and start-up loans. These products will be powered through mobile technology, and will be accessible to Kenyans across the country," said the communication to the press.