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{
    "id": 1285128,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1285128/?format=api",
    "text_counter": 477,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": " Hon. Temporary Chair, allow me to support this particular amendment and the amendment to Clause 36. In the past, when State enterprises were earmarked for privatisation, either there was a rush to strip them of assets and dispose of them at a loss or, at times, managers of the entities became very careless in their management. By the time enterprises are privatised, the Government has lost because the entities will have lost value. People become lethargic in managing entities thus losing revenue and end up becoming non-profitable. In the past, this has been a scheme by corrupt cartels in the country. Whenever they knew a State entity was bound to be privatised, they would completely run it down and organise to purchase it at a very low value. Immediately after they purchase it, they get new management, and they immediately become very profitable to the benefit of the private investors and at the expense of the public. I must commend the Chairman of the Committee for ensuring that we use this Bill to protect such entities from either erosion of assets or revenue streams and to ensure that the Government gets real market value of the entities it intends to privatise."
}