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"id": 1116938,
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"type": "speech",
"speaker_name": "Funyula, ODM",
"speaker_title": "Hon. (Dr.) Wilberforce Oundo",
"speaker": {
"id": 13331,
"legal_name": "Wilberforce Ojiambo Oundo",
"slug": "wilberforce-ojiambo-oundo-2"
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"content": " Thank you, Hon. Temporary Deputy Speaker. Today, we stand here debating this Report because of price regulations. Price control all over the world creates a distorted market. We are here because of lack of foresight and because we went for a controlled regime. I have perused through the recommendations by the Committee. As much as they look very wonderful and could be populist, the truth of the matter is that we are failing to address the fundamental issue which lies in the Act that sets the formula. Price control regimes anywhere in the world lead to market distortion. Global prices fluctuate depending on the season, climatic condition and how high the economies all over the world are operating. I would have expected the Committee to draw a more predictive system on how oil prices change in the world. Today, we are talking about Kshs130; tomorrow, it will be Kshs120. Probably, the trend will change. I urge my colleagues that when considering the Bill, the focus should be on the 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."
}