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{
    "id": 1266706,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1266706/?format=api",
    "text_counter": 306,
    "type": "speech",
    "speaker_name": "Kinangop, UDA",
    "speaker_title": "Hon. Thuku Kwenya",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker for giving me this opportunity to support the Report on our expenditure on the Consolidated Fund Service. At the outset, I would like to state that we, as a Committee, sometimes backed and passed in this House the Medium-Term Debt Strategy (MTDS). The National Treasury had proposed the kind of debt mix in the short term or in the Financial Year 2023/2024. For the record, as much as that Report was passed in this House it is not reflective of what the National Treasury presented to us later. They came to our Committee with different figures. Debt mix is a very important aspect, especially to investors, as this informs decisions as to how they are going to invest their money, especially those who invest in liquidity. A debt mix of 80/20, a departure from what was proposed of 50/50, means that investors must reorganise their investments. Having debts borrowed domestically at high level to the extent of 80 per cent of our total debt would mean that the interest rates are going to be higher locally. Maybe our investors were focused on a situation where they would invest elsewhere or invest locally, but because of this back and forth, their programmess are interrupted. As a representative of the people, I feel that the National Treasury, in the future, should stick to what they have presented to the House. This House does not act in vain. So, when we pass reports and the National Treasury presents different figures within a short time, it makes - allow me to use this word, Hon. Temporary Speaker - nonsense of the work we do here. Secondly, pensions are paid from the Consolidated Fund Service. We noticed that most of the employers, as much as they deduct their employees’ money, they do not submit the same money in good time. Therefore, that becomes a challenge. 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."
}