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{
    "id": 1055795,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1055795/?format=api",
    "text_counter": 40,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "(i) THAT, the National Treasury develops a policy to enable the reduction of unproductive and non-targeted tax waivers and tax breaks in order to protect revenue. This should be submitted to the National Assembly alongside the 2021/2022 budget estimates by 30thApril 2021. (ii) THAT, the National Treasury reviews the compendium of government projects and considers deferment of new projects by one financial year while ensuring adequate counterpart funding and provision of funds for stalled projects before finalization of the budget estimates for the FY 2021/2022. (iii) THAT, during finalization of the budget estimates for the FY 2021/2022, the National Treasury should take into account the pending bills and ensure that these are adequately provided for within the approved expenditure ceilings. (iv) THAT, the National Treasury restructures State-Owned Enterprises (SoEs) especially the highly indebted ones which are unable to meet their operational costs with a view to privatizing them by end of the FY 2021/2022 in order to put them on a sound economic footing. (v) THAT, during the finalization of the FY 2021/2022 budget estimates, the resources allocated for all international trade functions under the Ministry of Foreign Affairs be transferred to the State Department of Trade and Enterprise Development in order to be in line with assignment of functions as per the Executive Order No. 1 of 2020. (vi) THAT, for the avoidance of doubt and after consultations with the National Treasury, the Committee has approved the debt mix ratio of 57:43 of domestic to external borrowing as provided for in the MTDS. This strategy provides the optimal debt and is also consistent with key provisions of Section 50 of the PFM Act, 2012. Specifically, the law requires that, the National Government shall ensure that its financing needs and payment obligations are met at the lowest possible cost in the market which is consistent with a prudent degree of risk, while ensuring that the overall level of public debt is sustainable. (vii) THAT, the National Treasury should stick to its plan to reduce the stock of Treasury bills by Kshs. 200 billion. In the next 30 days following the adoption of this Report, the National Treasury should report to the National Assembly how this has been achieved and also on the progress on average time to maturity on domestic debt. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}