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{
    "id": 1032162,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1032162/?format=api",
    "text_counter": 71,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "the Constitution of Kenya 2010, has clearly laid down values and principles of good governance including integrity, transparency and accountability which are the core of Chapter Six of the Constitution on Leadership and Integrity; THAT, these principles equally extend to Public Finance Management as set out in Part II of the Act relating to responsibilities of committees of Parliament and the National Assembly’s Budget and Appropriations Committee in public finance matters and public finance principles under Article 201 of the Constitution of Kenya 2010; THAT, Article 95(2) of the Constitution of Kenya 2010 provides for the role of Parliament to include among other roles, deliberating on and resolving issues of concern to the people; THAT, the malignant corruption malady in this country has led to tremendous amounts of funds and assets being illicitly transferred or exported to offshore accounts; THAT, it is estimated that Kenya has since 2011 been losing an average of Kshs40 billion every year through illicit financial flows because local firms and multi-nationals engage in fraudulent schemes to evade payment of tax, thereby adversely affecting revenue collection and impeding the country’s economic growth;THAT, the recovery of money held in privately-held foreign accounts will go a long way in not only boosting the country’s economy especially in the recovery phase following the COVID-19 Pandemic, but also help the country recover from the huge debt burden it is currently accumulating; THAT, while efforts are being made to repatriate stolen funds and unexplained assets through the Framework for Return of Assets from Corruption and Crime with Switzerland, Jersey, and the United Kingdom, and through the Mutual Legal Assistance law, the country is yet to make any notable progress; THAT, no substantive effort has been made to make public the holders of secret offshore accounts in a bid to repatriate the amounts held abroad; THAT, efforts to have these matters addressed by relevant authorities have not borne fruit; and,"
}