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{
    "id": 1103141,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1103141/?format=api",
    "text_counter": 184,
    "type": "speech",
    "speaker_name": "Sen. M. Kajwang",
    "speaker_title": "",
    "speaker": {
        "id": 13162,
        "legal_name": "Moses Otieno Kajwang'",
        "slug": "moses-otieno-kajwang"
    },
    "content": "listen to them. The CBK as a fiscal agent of the Government, as the entity that manages the forex reserves of this country cannot be left out of the advice, operations and oversight of this sinking fund. I want to conclude as I support the Committee by also saying that we have so many other budgetary priorities but ring-fencing funds and setting them in a pot somewhere for payment of loans might not be feasible. What we need to do is to ensure that our budget goes to fund productive sectors of the economy. If the wealth of a Nation is measured by the services and goods it produces what we should be doing is to fund and finance productive sectors, dairy livestock, agriculture, aquaculture, tourism and manufacturing. Those are the sectors that will generate wealth. It is through that wealth that we are going to get taxes, and through those taxes that we are going to get money to repay our debts. Setting aside funds in this manner even though it is an economic practice sounds lazy to me. I think that the CS, Treasury should very much be concerned about enhancing the productivity of this economy so that we grow our GDP and our wealth. Madam Deputy Speaker, I thank the Committee on Delegated Legislation because time and time again they have confirmed that the Senate is not a walkover when it comes to legislation through regulation. I want to encourage the chairperson of this Committee to continue scrutinizing all the regulations that are brought to this House and bring back the reports in a timely manner because when they delay some of those regulations take effect automatically. I want to urge the House to support the Committee in its findings. I want to ask the Treasury to go back to the drawing board; have a conversation with the CBK and all stakeholders; look at the bigger picture of growing the pie rather than ring-fencing and keeping money in a pot somewhere so that when they bring back regulations to this House, they will be regulations that will not be contested by key stakeholders within the sector. Madam Deputy Speaker, I second."
}