Reprieve for pyrethrum pensioners at the Pyrethrum Processing Company of Kenya (PPCK) after the organization embarked on paying their delayed dues.
The company has more than 300 pensioners owed by PPCK more than Sh2 billion. Interesting to note at least 60 of them have already died.
“Valuers from the Ministry of Lands are auditing some of the property that would be disposed [of] after the board approved their disposal,” said PPCK acting managing director Mary Ontiri.
The assets being disposed of will be transferred to the Retirement Benefits Authority and the Attorney-General, the company’s receiver. After which, the money shall be used to pay the pensioners.
The process of paying the pensioners has been long overdue after court battles with previous regimes at PPCK, who argued, the assets were part of their income-generating streams.
“The house rents were generating Sh1.9 million, which was insufficient to meet overhead costs,” a senior PPCK official said.
Ontiri said that the Lands officials would give their report before the end of this month.
