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{
    "id": 1393798,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1393798/?format=api",
    "text_counter": 228,
    "type": "speech",
    "speaker_name": "Sen. Sifuna",
    "speaker_title": "",
    "speaker": {
        "id": 13599,
        "legal_name": "Sifuna Edwin Watenya",
        "slug": "sifuna-edwin-watenya"
    },
    "content": "members of the committee. Sen. Eddy Oketch will tell me why they ignored these important submissions from his Institute of Certified Accountants (ICPAC). On Page 21, Paragraph 25(c), (d), and (e), I just want to read those recommendations. On Page 21 of the report, this is what the Institute of Certified Public Accountants (ICPAC), recommended that the committee must do. First, we need to prioritise projects independently assessed for financial viability and consider absorption capacity constraints within the investment timelines. They also recommended, considering public-private partnerships as a form of financing development expenditure. Further, they recommended that we gradually retire expensive commercial loans for long-term concessional loans. One of the recommendations that was debated this afternoon when we were discussing another matter is that Parliament should demand regular reports on capital projects financed through debt from the National Treasury to enhance openness and transparency. The report should include the corresponding feasibility studies, details of commitment fees, if any, and the project implementation status. This is coming from the perspective of what we saw in the last regime. In fact, the money was borrowed. However, the Auditor-General himself told us that he could not trace a single project to which the money that was borrowed went to. We had the spectre of projects such as the Arror and Kimwarer dams. If we were in this position where Parliament would be demanding for regular reports, we should be shown why this money was borrowed. Which projects have been identified to be supported through those borrowed funds; the feasibility studies and the commitment fees that had been paid. You remember, there was a controversy at that time with the Arror and Kimwerer dams as to what commitment fees had been paid. It involved the person of the current President when he was the then Deputy President, telling the country that it was a mere Kshs9 billion, just a small figure. He told us the Kshs7 billion had been lost."
}