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{
    "id": 107014,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/107014/?format=api",
    "text_counter": 10,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "The Assistant Minister, Office of the Deputy Prime Minister and Ministry of Finance",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": " Mr. Deputy Speaker, Sir, I beg to reply. (a) The Government will raise money for emergencies through rationalization of budgets of various Ministries, implementation of expenditure cuts across the board, including reducing funding to projects whose absorption capacity is low and increase domestic borrowing. (b) The Treasury does not directly own shares in the Consolidated Bank of Kenya, but owns 50.2 per cent through the Deposit Protection Fund, this being Treasury’s contribution that went into establishing the bank. There is no definite percentage of the Treasury shareholding in the bank that has been earmarked for sale in the 2009/2010 Financial Year. (c) The proceeds from the sale of the Consolidated Bank of Kenya were not part of the privatization receipts that were envisaged in the Financial Year 2009/2010 Budget Framework. The outcome of the court case will, therefore, not affect the Government’s financial operations."
}