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{
    "id": 1213849,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1213849/?format=api",
    "text_counter": 220,
    "type": "speech",
    "speaker_name": "Nyaribari Masaba, ODM",
    "speaker_title": "Hon. Daniel Manduku",
    "speaker": null,
    "content": "per cent and they will not tell you that those countries are owed billions of dollars by developing nations. They will also not tell you that those countries borrow and lend in their currencies. So, they are not affected by fluctuations in currencies. Reading through this Report, I want to emphasise the need for legislation. We need to develop an Annual Loans Bill. This should be done with utmost care and expedited as soon as possible. Furthermore, there is need to amend the Public Finance Management Act of 2012 for three reasons: 1. To establish the Sinking Fund. 2. To ring-fence the counterpart funding where we have funding from international lenders like the World Bank. 3. To sanction officers who do not adhere to laid down procedures in committing this country to borrowing and hence forcing this country to pay commitment fee where there is no money that has been drawn. This Committee should have its scope expanded to include other obligations like pending bills. The Chairperson of the Departmental Committee on Finance and National Planning put it very well that it is time that pending bills are brought before the Committee. Secondly, we are aware that this country has got a lot of unpaid court awards. Kenya has not paid billions of shillings in court awards. This should also be part of the Committee’s mandate because it forms part and parcel of our obligations. We need to look at Kenya Airways critically. We have been told that Kenya Airways is a strategic parastatal and a strategic investment, but I think the problem with Kenya Airways is that the Government owns part of it. I am one of the people who believe that the Government cannot do business. The involvement of the Government in Kenya Airways should be relooked at. We were told that Telkom was very strategic and could not be privatised. See what happened when we liberalised the telecommunications sector. It is time we restructured Kenya Airways, and sold it to a strategic investor or close it down. Lastly, allow me to contribute to the issue of retired pensioners. A simple calculation will tell you that the youngest existing retired pensioner should be about 115 years having retired in 1963 at the age of 55. I think the National Treasury should be serious about this matter."
}