Parliament has launched an investigation into the Ksh3.8 billion State Officers and Public Officers Motor Car Loan Scheme for alleged mismanagement and neglect.
MPs drawn from the National Assembly Special Funds Accounts Committee on Thursday, November 21, raised concerns about the purpose and effectiveness of the fund during a session with the fund CEO, Edna Atisa.
During the meeting convened to address pending audit queries, the lawmakers revealed that the fund, which was valued at Ksh3.8 billion, has only facilitated transactions worth Ksh641 million since its inception in 2015.
The fund was established to provide car loans to state officers in the executive and civil servants under the Public Service Commission.
Despite having a fund valued at Ksh3.8 billion, only a fraction has been used for its intended purpose, leaving Ksh3 billion sitting idle for years.
“The fund was dormant between 2015 and 2019, with Ksh3 billion sitting idle during that period,” a report by the Auditor General as quoted by the legislators revealed.
