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{
    "id": 1222492,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1222492/?format=api",
    "text_counter": 126,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "1. That, any borrowing undertaken by the National Treasury in FY 2023/24 should not exceed the Ksh10 trillion approved debt ceiling set by Parliament. 2. That, to enhance liquidity management and help reduce unnecessary short-term domestic borrowing occasioned by governments inability to access surplus funds held in numerous Ministries, Departments and Agencies (MDAs) bank accounts, the National Treasury spearheads the integration of MDA banking arrangements into a single treasury account system as provided for in section 28(2) of the Public Finance Management (PFM) Act, 2012 and the PFM regulations. This should be submitted to Parliament within six months. 3. That, as indicated in the Committee’s report on the Consolidated Fund Services (CFS) expenditures for supplementary estimates No. 1 of FY 2022/23, the National Treasury should within six months, table regulations for the establishment of a sinking fund dedicated to public debt servicing as provided for under section 50(8) of the PFM Act, 2012. 4. That, in order to safeguard against shocks with regard to external interest payments, the National Treasury adopts hedging mechanisms on foreign exchange risks and/or negotiates lending agreements in Kenya shillings. 5. That, the National Treasury undertakes a review of all undisbursed loans amounting to Kshs1.179 trillion and submits to the National Assembly within one month, a report with information on terms, status, reasons for non-disbursement and proposals on any loans that can be cancelled to save spending on commitment fees. 6. That, in adherence to the Accra Agenda for Action 2018, donor support MUST be aligned to the country’s budget cycle to facilitate proper planning by the implementing agencies and reduce occurrence of undisbursed loans. 7. That, within two months, the National Treasury submits to this House, a strategy for resolution of non-performing loans linked to various State-owned Enterprises (SoEs) including Kenya Airways. 8. That, the Office of the Auditor General expedites the audit of project loans under the water sector and the Ksh9.9 billion loan borrowed on behalf of KPLC and submits this report to the House within the next two months. 9. That, in the next budget cycle, the National Treasury aligns the borrowing strategy proposed in the Budget Policy Statement with the borrowing strategy in the Medium- Term Debt Strategy (MTDS) in order to ensure credibility of the Government’s planning documents. 10. That, in the next budget cycle, the National Treasury undertakes public participation on the MTDS in line with Article 201 of the Constitution. 11. That, going forward, the MTDS should live up to its expectation as a medium-term document by showing consistency in proposed debt management strategies including deficit financing on a three-year rolling framework, from one MTDS to another. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}