Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 1254154,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1254154/?format=api",
    "text_counter": 105,
    "type": "speech",
    "speaker_name": "Prof. Njuguna Ndung’u",
    "speaker_title": "The Cabinet Secretary, National Treasury and Economic Planning",
    "speaker": null,
    "content": "In the Financial Year 2022/2023, the Government initiated a number of reforms at the Kenya Power Company (KPC) and Kenya Airways (KQ), aimed at improving their efficiency, reducing costs and increasing revenue. To further enhance KPLC’s financial sustainability, the government will restructure its balance sheet, mainly focusing on the huge loan balances, payables and receivables. This will in turn address its current huge liquidity gap. Towards this end, the government will implement a four-point action plan focusing on: 1. Transfer of all transmission assets/lines to the Kenya Electricity Transmission Company (KETRACO). 2. Settle outstanding Rural Electrification Schemes (RES) operations and maintenance costs, which has a deficit of Ksh19.4 billion as of June 2022 and ensure that KPLC and Rural Electrification and Renewable Energy Corporation (REREC) enter into a commercial contract for future RES Maintenance cost 3. Develop and implement a turnaround strategy that includes reduction of system losses from the current 22.4 per cent to 14.4 per cent by end of June 2025. 4. Establish a new governance structure at KPLC to give private shareholders fair representation, reflecting the company’s shareholding structure. With regard to KQ, the Government’s policy stance is to turn around the airline and position it as a Pan-African carrier that will ensure it is run through profitability and sustainability objectives, eventually reducing the airline’s dependency on budgetary support. Hon. Speaker, as at 31st March 2023, the total outstanding pending bills amounted to Ksh537.2 billion, comprising Ksh450.2 billion for State corporations and Ksh79.3 billion for Ministries, Departments and Agencies (MDAs). During the same reporting period, county governments reported pending bills of Ksh159.7 billion. Management of the pending bills is a challenge. In the public eye, it will form an important benchmark upon which overall integrity of the government’s style of financial management will be tested and judged. The delay in 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."
}