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{
    "id": 121659,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/121659/?format=api",
    "text_counter": 333,
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    "content": "First, let me congratulate the Office of the Deputy Prime Minister and Ministry of Finance for coming up with this very important Bill. The important thing to understand is a fact that the world is becoming a global village; with all the inter-connectivities, we are moving into an open market. As we move into an open market, even within the Kenyan boundaries, we need to define ourselves in a way that we are able to invite fair competition and also protect ourselves from what we will call being over-ridden by dominant market players through monopolies, oligopolies or duopolies. Even in the most capitalistic societies, we have found the need to control those dominant positions and, we are very familiar with the fact that, even the largest corporations such as Microsoft, have been under scrutiny for taking advantage of competition. Money markets or equity markets are now developed and we moved from a position of price controls and now we have deregulation, decontrol and we have privatization. Competition as defined is the rivalry between businesses. It is the best scenario where forces of markets come into play in terms of demand and supply and the consumer is able to get the best price and the best service. However, if one position of advantage in competition happens to emerge, we can get ourselves into problems. For example, there might be a scenario where, with this new technology, like the mobile phone technology--- Can you imagine a situation where you will find the three or four players in the market deciding to come together? If they did that, there will be the absence of price control and consumer protection. In the end, services will deteriorate and even competition will cease. This will lead to the consumer being taken advantage of. In the end, it will be a market where we cease to be competitive, not only in the local market, but also in the global market. Madam Temporary Deputy Speaker, if we were to talk about the process of privatization; we have moved from privatizing quite a number of monopolies and now those monopolies are within the market; and they are private entities. It will be very dangerous to have private monopolies in comparison to public monopolies. So, if you look at the Competition Bill, you will find that its aim is to create effective market- oriented economic forces that encourage competition and thus increasing the level of efficiency and innovation. That can only be to the benefit of the consumer. When the consumer benefits, the economy then becomes more vibrant, we are also able to attract more players within the market. A better and competitive climate, obviously, is able to, not only attract and encourage local investors but also attract foreign investors."
}