Entry Instance

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

{
    "id": 1119248,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1119248/?format=api",
    "text_counter": 325,
    "type": "speech",
    "speaker_name": "Sen. Kibiru",
    "speaker_title": "",
    "speaker": {
        "id": 13196,
        "legal_name": "Charles Reubenson Kibiru",
        "slug": "charles-reubenson-kibiru"
    },
    "content": "Madam Deputy Speaker, Section 15 (2) (c) of the Public Finance Management Act (PFM) Act, stipulates that: “Over the medium term, the National Government’s borrowings shall be used only for the purpose of financing development expenditure and not for recurrent expenditure.” Therefore, the Auditor-General should within six months undertake a special audit on the utilization of commercial loans in Kenya up to the first quarter of 2021/2022 and submit a report to Parliament. Remember that we said people are breaking laws with impunity. People are treating the national coffers like their private business and that they can take money from one kitty to another kitty without following the law. Number seven, we are recommending in order to enhance public sector investment and increase efficiency of public spending, National and County Treasury should apply best practice in project appraisal and selection. We need to think widely and wildly on how we are going to tame the appetite of projects both in the county and in the national Governments. So that we can deal with only low hanging fruits. Even if we were to borrow, we can do a 70:30 ratio where 70 per cent goes to infrastructure and 30 per cent goes to areas that will generate funds. I am seeing people coming up with economic models, but that should be one of them. That we do not just borrow for long-term infrastructure when we have very low hanging fruits that can help this country to survive and be sustainable. The National Treasury should publish and submit to Parliament every three months a comprehensive report of debt servicing expenditure. We must hold them"
}