Entry Instance

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

{
    "id": 1352656,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1352656/?format=api",
    "text_counter": 2416,
    "type": "speech",
    "speaker_name": "Kinangop, JP",
    "speaker_title": "Hon. Kwenya Thuku",
    "speaker": {
        "id": 13380,
        "legal_name": "Zachary Kwenya Thuku",
        "slug": "zachary-kwenya-thuku"
    },
    "content": "Informal Settlement Improvement Project (KISIP), worth Ksh6.6 billion. The funds were appropriated and there was a county government additional allocation that that was passed in 2022/2023 yet the money was never absorbed. Parliament will then have to re-do its work yet we know that Parliament does not act in vain. I do not want to belabour what is in this Report, but I pray that this House will find it in its wisdom to pass or adopt the Committee's Report so that, going forward, we can exercise our constitutional duty of oversight and see to it that there is proper use of all the money that has been advanced to this country. Finally, on the issue of liquidity, the Government at times suffers because it borrows money but the money remains in the purse of the lender. Therefore, we are unable to access that money because at times the clauses in the contracts when we borrow are not friendly to Kenya or to the borrower. How is it that I walk into a bank and borrow money, but it is under the purview of the bank to tell me how I am going to spend that money or at what rate I can withdraw? In the same breath, I am expected to be repaying that money while it is not in my pocket! They are not going to charge interest on the money that I have drawn down, but on the entire loan. It is upon us to pronounce ourselves on the matter. The National Treasury needs to re- look into the contracts that they are signing, so that once we borrow money, it hits our coffers here and helps improve our liquidity. This will also cure the depreciation of the Kenya Shilling in terms of the exchange rate compared to foreign currency since we shall have enough in our coffers. I wish to support this Report and request all the Members of this House to find it in their hearts to support this because it is going to be a game changer in terms of how we oversee our loans."
}