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{
    "id": 1353522,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1353522/?format=api",
    "text_counter": 388,
    "type": "speech",
    "speaker_name": "Kitutu Chache North, UDA",
    "speaker_title": "Hon. Japheth Nyakundi",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. I also want to contribute to this Motion on the Report of the Public Debt and Privatisation Committee. For sure, our debt as a country has injured us in so many ways. I know we have made so many cuts even in the current Supplementary Estimates I for the 2023/2023 Financial Year that we have passed. This is because our debt has increased due to exchange rates against the dollar. The CFS in the current Supplementary Estimates I have increased by about Ksh145 million because of the increase in the dollar. The second point is this country’s debt in the previous regime. A lot of debt accumulated in the previous regime because of taking loans that were very expensive for the people of Kenya. These loans were not used properly. An example is the subsidy on fuel. We are currently paying Ksh60 billion that the previous regime used for fuel subsidies and unga. We are also paying money for Telkom Kenya Limited and Helios Investment Partners. Those are debts by the previous regime and we do not know where they went. As a country, we should create proper mechanisms to manage our debt. As we speak, most businessmen have not been paid pending bills. Most businessmen are dying because they have not gotten their money. As a country, we know we depend on the government for the circulation of money so that the mwananchi down there has this circulation. I support this Motion on public debt. As a country, we need to live according to our means. We need to live according to what we have. We should not budget for resources that are beyond what we get as a country. I support this Motion and I encourage that we, as a country, should live according to our means. Thank you, Hon. Temporary Speaker. 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."
}