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{
    "id": 141909,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/141909/?format=api",
    "text_counter": 461,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "We also found that the financial performance of some of these corporations was seriously wanting. We noted the overall financial standing of the State corporations. We also examined the financial and dismal financial performance of these State corporations. We noted that the corporations were registering huge losses year after year thus posing a threat to their continued operations as going concerns. We observed for various reasons the inability of State corporations to return profits. Notable cases included, the Bomas of Kenya, Kenya Industrial Research Development Institute, Ewaso Nyiro South and Coast Development Authority while noting that reasons given for the poor performance hinged on inadequate allocations from the Treasury. We observed the lack of budgetary controls in some of these State corporations while others invested funds without feasibility studies undertaken to ensure viability of this investment leading to these huge losses."
}