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{
    "id": 104326,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/104326/?format=api",
    "text_counter": 351,
    "type": "speech",
    "speaker_name": "Mr. Orengo",
    "speaker_title": "",
    "speaker": {
        "id": 129,
        "legal_name": "Aggrey James Orengo",
        "slug": "james-orengo"
    },
    "content": "available to the Ministry do not demonstrate a serious undertaking to construct a seven-star or even a five-star hotel. With this state of affairs, it may well be that the land was acquired for speculation. The history of the land while in the hands of the Tourist Paradise Investment Limited showed lack of commitment by that company to pay land rent, interest and penalties and the Government will not allow further speculative transactions on the property. The land is and will remain a prime Government property for which the Government must realize substantial incomes and returns. Mr. Deputy Speaker, Sir, considering that both the Treasury and Attorney-General’s Chambers approved the request by the NIC to dispose of the property in order to secure depositors’ funds and outstanding principal land rent in pursuit of public interest and financial stability, it is apparent that the consequent transactions involving the property do not support the Government’s intention. Under the circumstances, I directed that a Cabinet memorandum be prepared to brief the Cabinet and seek its guidance and final decision on the matter. In the meantime, the caveat is in place and no transactions are allowed on that properly. Mr. Deputy Speaker, Sir, just for completeness of record, I want to lay on the Table the transfer between the bank and Galaxy Walker Limited, which shows quite clearly that it was in exercise of the statutory power of sale. I would also like to table my memorandum of last year in which I said nothing should happen on that land."
}