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{
    "id": 1418281,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1418281/?format=api",
    "text_counter": 339,
    "type": "speech",
    "speaker_name": "Seme, ODM",
    "speaker_title": "Hon. (Dr) James Nyikal",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker for giving me this opportunity. I rise to support this Report. I would like to start by congratulating the Committee for the good work they have done. Particularly, for the clear way they have presented it. They have made it possible for us to discuss the matter. The Public Investments Committee (PIC) is important because it looks into what the public is investing in - institutions that we put our money into hoping to get returns. I appreciate how they have gone through the legal process and the processes they use. I will just make very brief comments. One, on the Central Bank of Kenya and the Kenya School of Monetary Studies, it is true that this has been lying in between - whether it is a department or an agency on its own with its own board. I appreciate that they have actually found out that the people in the Board of the Central Bank of Kenya, are the same ones in the Board of Kenya School of Monetary Studies thereby, earning twice for doing the same job. I support their recommendations that this be made a department of the Central Bank of Kenya. Even if we make it a department, as a school of monetary studies, it trains people in finance. It is therefore important that they find out whether it only trains the staff of the Central Bank of Kenya. It is my view that this institution can train staff from other Government agencies, so that we can strengthen the financial management across the Government. This is because the Report says that they found weak auditing procedures and so on in other institutions. If we use this institution to do that, I think it will improve the financial management within the Government. I know the institution well. It is a big institution. I, therefore, do not see why it cannot be used to train private individuals who would want to get competence in financial management and finance in general. If they do that, they can raise funds. The institution may not need money from the Central Bank of Kenya for it to be operational. With that alone, it can raise enough Appropriations-in-Aid (A-in-A) to run on its own. I support that idea. I also support the recommendation on the issue of the East African Portland Cement. The Chairperson has said that the Government, in some parts of the industry, should actually own institutions that produce either services or goods that are in public demand and central in our development. Cement is key in our growth. We are now talking of affordable houses. The biggest product there is cement. If you leave the private sector on its own, they will form a cartel. Even if you put regulatory measures, the private sector will always form an association or something and create a cartel. It is, therefore, important to have a Government institution that produces the same product. Such institution can set the standards and hence stabilize the prices. If it is efficient, it can produce enough and stabilize the prices. It only needs a lot of 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"
}