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{
    "id": 1242449,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1242449/?format=api",
    "text_counter": 176,
    "type": "speech",
    "speaker_name": "Hon. Chirchir",
    "speaker_title": "The Cabinet Secretary for Energy and Petroleum",
    "speaker": {
        "id": 13110,
        "legal_name": "Zipporah Jepchirchir Kittony",
        "slug": "zipporah-jepchirchir-kittony"
    },
    "content": "I believe that is why we are still owning and sticking to 50.1 per cent, to be able to push our interest in supporting growth of power in our country and ensuring the cost of power is correct. Mr. Deputy Speaker, Sir, if you go to the investment front, unless we are competitive, we cannot attract any firm to invest because investment is about return. Where there is competition, global firms will only invest where they get cost advantage, distant advantage and so on and so forth. Sen. Wakoli, we are working on restructuring of KPLC mid-term and balance sheet to ensure that they are able to address the challenges that are obtaining. We need our country to be competitive and not continue migrating investments into Ethiopia and other countries around us because of the cost of power and the inconvenience of getting power where you need to build your industry. Sen. Lomenen, I empathize with this challenge. Investment time is difficult, expensive and there is no return. Tullow and the Government will be investing up to Kshs3.4 billion to get to the first drop of oil. Whereas doing that investment, the returns are at the tail end of the third year when we go to market. Like I said, there is more concern today on environmental, social and governance issues. Social becomes very important. This is because unless the communities who live where we work are happy and their issues are addressed, we will not have any headway. We know the challenges we face together in that area, including at one time Tullow packing and leaving the site. We will pay attention, so that we take care of our people, but also take care of the investor so that it is a win-win. I promise that we will work very closely together. If we can get a third auditor to be paid by the county to confirm the measurements of our resource, that will go a long way in assuring our people that nobody is playing games. Therefore, there is going to be a win-win situation in that area. Thank you, Sen. Korir, for your comments regarding the fact that we are going to pay attention as a Government in office. We are going to be responsible. It is important that we continue to come to this House to support the accountability responsibility that is bestowed in this House. When called upon, I confirm that we will be available and prepare adequately, so that we furnish the House with the correct information. This is your role and the link with the people of Kenya in terms of all of us working together to develop our country. Thank you, Mr. Deputy Speaker, Sir."
}