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{
    "id": 1285146,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1285146/?format=api",
    "text_counter": 495,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": "This is a deletion of this clause, and I want to take my time on this one because it is very important. It says that any proceeds from the sale of a public entity’s shareholding shall be deposited in a special interest account established for that public entity to protect the erosion of the balance sheet of that particular public entity. Hon. Temporary Chairlady, the accounting of this transaction would have meant that that institution could easily find itself reverting to being a public entity. A key point is what, for example, you have seen with Telkom Kenya, where now it has more or less been bought back, and there is not any legal provision that allows a private entity to go back to being a public entity. This proposal is, therefore, the deletion of that clause that was purporting to protect the erosion of the balance sheet of these public entities under the privatisation programme."
}