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{
    "id": 1261825,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1261825/?format=api",
    "text_counter": 178,
    "type": "speech",
    "speaker_name": "Kitui Central, WDM",
    "speaker_title": "Hon. (Dr) Makali Mulu",
    "speaker": null,
    "content": "Based on that, it means that, through the physical consolidation path, the National Treasury will be working towards bringing the percentage to where it should be, 55 per cent. We, however, have another dilemma. The figure has moved beyond 5 per cent, which we are proposing. That means as we go to the Third Reading, there will be need to look at that, and plus or minus 5 per cent again and see how the drafting can be done in order to allow the National Treasury to operate within the region of breaching. However, we must force them to work towards achieving the 55 per cent. Hon. Speaker, that is the explanation I had for Members. Even as we agree to this, this is an area we would all want to hear Members’ input so that as we craft the final draft of the law, we do so correctly. Hon. Speaker, I must, really, thank you and the wisdom of the House for creating the Committee on Public Debt and Privatisation. Up to now, this Committee has tabled about three Reports relating to Public Debt and Consolidated Fund Services (CFS). I urge Members to look at these Reports. They provide important information in addition to the things that Members will be proposing so that we are able to properly control public debt in this country. First, this House should annually discuss what we call the “Medium-Term Public Debt Strategy” because it comes together with the Budget Policy Statement (BPS). If we discuss and approve the document on an annual basis, it would mean we have an opportunity to set the public debt ceiling. Immediately we set the Budget deficit, we would have set the public debt ceiling. It means that on annual basis, our Committee will be proposing that we take this document seriously and make sure that whatever savings we agree on, they are adhered to by the National Treasury. The second point that we have proposed is on the public debt portfolio for this country, debt stock and the payments we are making. We have realised that this country has 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."
}