Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1075730,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1075730/?format=api",
    "text_counter": 326,
    "type": "speech",
    "speaker_name": "Sen. Kibiru",
    "speaker_title": "",
    "speaker": {
        "id": 13196,
        "legal_name": "Charles Reubenson Kibiru",
        "slug": "charles-reubenson-kibiru"
    },
    "content": "Mr. Temporary Speaker, we even proposed to the National Treasury that they should have an overdraft from the Central Bank so that counties must get money as and when it is due. When we talked to the National Treasury they said that sometimes the counties have monies that are in excess of Kshs500 million so they cannot disburse funds to them. Sen. Mutula Kilonzo Jnr. asked who gave them the permission to do that. This is because once we pass the law, when the schedule becomes due, the National Treasury will have no mandate to alter whatever we will do. As a committee, we will propose amendments to the Public Finance Management (PFM) Act. We propose the creation of what we learned with Sen. Mutula Kilonzo Jnr. somewhere, that is the Treasury Single Account (TSA) system. Many countries have embraced the TSA system for managing government cash. The beauty of it, as we will explain when we make proposals in the amendments, is that it will give the Government and especially the Central Bank of Kenya (CBK) the control over all the resources. Counties could be borrowing but there could be some Government money lying in some commercial banks. We will propose that tax and non- tax revenues be domiciled in one account at the CBK. This is happening even in countries like Sudan. We feel it is high time we started doing that as a country. Probably the reason banks are making huge profits even in the current situation where we have COVID-19 is because of trading with the taxpayers’ money while the Government continues to borrow. This is a proposal we will put forward in the amendment. We will also meet the Cabinet Secretary in charge of the National Treasury. We have asked him to meet us tomorrow because we need to know why they are not disbursing money to the counties. Mr. Temporary Speaker, Sir, without much ado I ask my able Vice-Chairperson to second."
}