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{
    "id": 1114673,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1114673/?format=api",
    "text_counter": 79,
    "type": "speech",
    "speaker_name": "Kikuyu, JP",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": {
        "id": 1835,
        "legal_name": "Anthony Kimani Ichung'Wah",
        "slug": "anthony-kimani-ichungwah"
    },
    "content": " Hon. Speaker, thank you for your indulgence. I honestly sympathise with Hon. Gikaria, the Chair of the Departmental Committee on Energy. As the Majority Whip has said, if you listened to the issues Hon. Duale has raised in his Request for a Statement today, some are very weighty matters. I can tell you having served as the Chair of the Budget and Appropriations Committee over the years, that Hon. Duale is requesting for the development expenditure. My good friend Dr. Makali will bear me witness that what the Leader of the Majority Party emeritus is asking for is opening a Pandora’s box. The fact is that the National Treasury is unable to appear before the Departmental Committee on Energy. I want to beg in line with your view, the Committee moves to apply whatever measures needed legally to get the CS National Treasury to appear before them. The issue of IPPs as mentioned by Leader of the Majority Party is a scandalous process that has happened in this country close to over 30 years. More importantly, since they are yet to meet the National Treasury, I want to request the Chair of the Departmental Committee to tie that up with what Hon. Duale has called the takeover. Indeed, this was described as making Kenya Power a special project. They should ask the National Treasury why when Uchumi Supermarket was taken over by the Government as a special project, trading of its shares in the Nairobi Stock Exchange (NSE) was suspended. We want the Chair of the Departmental Committee on Energy to establish this from the National Treasury because an Inter-ministerial Committee involving the National Treasury has been formed to deal with the energy issues and IPPs. Have they suspended trading of Kenya Power shares at the NSE? It is important we protect, not just our national assets, but also private equity and it is a fact that Kenya Power has private equity shareholders. We would also want the Departmental Committee on Energy to get from the CS National Treasury, who are the majority private equity shareholders in Kenya Power. So, even as we expend public resources to rescue Kenya Power, we should know the other hidden beneficiaries of this process. So, we do not use Government to rescue a company listed at the NSE. Maybe, with trading ongoing, nothing stops me today, from walking to the NSE and buying Kenya Power shares at about Ksh1 knowing that the Government is using public money to rescue this firm. Then, maybe, in another six months as a turn-around, I cash in. 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."
}