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{
    "id": 1103183,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1103183/?format=api",
    "text_counter": 226,
    "type": "speech",
    "speaker_name": "Sen. (Prof.) Ongeri",
    "speaker_title": "",
    "speaker": {
        "id": 124,
        "legal_name": "Samson Kegeo Ongeri",
        "slug": "samson-ongeri"
    },
    "content": "We have been crying about our debt ratio all the time and that the ceiling is so high and that it will be dangerous at this stage. Of importance is that we have the Central Bank of Kenya Act which is obviously in conflict with the guidelines being set out by the National Treasury. One of the other elements that we need to be cagey and wary about is how the National Assembly or the Senate can have access to oversight these funds. When you give a carte blanche to the National Treasury to spend money that they have put aside when their own regulations are in conflict with the Central Bank of Kenya Act, how will the National Assembly or this Senate oversight those funds being set aside for a specific purpose? I want to thank the Chairperson of the Committee on Delegated Legislation for having taken this timely action because if we do not do so, it will be one way of putting money to a sinking hole. People will gather the money and one morning, somebody will wake up and apply it to a specific item. They will say that it was a decision of the officials and mandarins of the National Treasury. Therefore, they decided that this money must go to specific item without any plan, oversight or audit whatsoever. There is no indication on how that money is going to be spent in one level or the other."
}