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{
    "id": 1169567,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1169567/?format=api",
    "text_counter": 196,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "(5) The National Treasury has a number of policies aimed at addressing the macroeconomic pressures caused by increased expenditure demands and promoting fiscal consolidation. These include- (i) Plans to use more of EPC (Engineering, Procurement and Construction Contracts) project financing. The EPC project financing method transfers all the risks associated with design, procurement and construction to the contractor. This type of contracts are efficient and reduce project costs and also attractive to lenders and thus low borrowing costs; (ii) Efforts to ensure public debt sustainability that include; the enactment of the Public Private Partnership Act, 2021 that has enabled the undertaking of development projects outside the budget framework a case in point is the Nairobi Express way. All Government projects currently undergo a feasibility study and considered whether they can be undertaken through PPP framework before they are factored in the budget; (iii)Automation of Government procurement for all common-user items and link it to Integrated Finance Management Systems (IFMIS). The system is currently being developed by the National Treasury and will soon be rolled to Ministries and departments. This will ensure that no procurement is done outside the budget and, therefore, reduce Government expenditure and cost. Madam Temporary Speaker, based on the foregoing observations and pursuant to Section 205 (4) of the Public Finance Management Act, No.18 of 2012, the Senate Sessional Committee on Delegated Legislation presents its Report on the consideration of the Public Finance Management (National Government) (Amendment) Regulations, 2022, and recommends to the Senate that the Public Finance Management (National Government) (Amendment) Regulations, Legal Notice Number 89 of 2022, be approved."
}