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{
    "id": 1208130,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1208130/?format=api",
    "text_counter": 118,
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    "speaker_name": "",
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    "speaker": null,
    "content": ": Thank you, Hon. Temporary Speaker, for this opportunity to also add my voice into this debate on the Public Investment Management Regulations. This House passed the Public Finance Management Act of 2012 and in the Act, there are a lot of articles discussing matters of public investment. The Regulations we are discussing this morning are very important because they provide the operational framework for implementation of public investment initiatives. Any investment, either by a country or by an individual, is expected to generate some revenue for the country except those ones that are of public good. In the old days when I worked in the Treasury, we used to have public investment programmes where there were technical people who looked at all aspects of investments and advised the Government and in a priority manner, listed projects that rank priority number one, two and three. Overtime, we seem to have lost that chance of ranking our public investments. I see these Regulations are putting us back to the right track in terms of making sure that whatever we invest in as a country benefit Kenyans. I am supporting this because the Regulations would give us the operational framework and I expect that before any public investment is moved to the future, there would be a very clear criteria in terms of how we assess the viability of that public investment, either through a feasibility study or project appraisal. This will ensure that before we invest, we are sure that wherever we are putting in public money, it is something which is going to benefit majority of Kenyans. In these Regulations, I am imagining that we will have a chance to discuss the funding framework. As I listen to Members debating this, you will realise that as we fund these public investments, we can do so using our own resources which are generated through taxing Kenyans. However, some of these public investments are being funded through external sources. In my opinion, there should be a very clear distinction in terms of funding our public investments through external support. In such a case, it is very important that where funding is The electronic version of the Official Hansard Report is for informationpurposes only. A certified version of this Report can be obtained from the Hansard Editor."
}