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{
    "id": 141930,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/141930/?format=api",
    "text_counter": 482,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "Generally, I noticed that the Chief Executive Officers prefer to take easier options when it suits them or when they want to commit public funds. For example, most of the corporations are governed by various Acts of Parliament. Chief Executive Officers or the boards should link up with the Minister concerned and the Ministry of Finance before carrying out a certain project but they do not do this. This is the case when they have got money to spend. They only go to the Ministries when they do not have money to spend. When they have money, they prefer to do it their own way. This is why you will find in the case of the NSSF, for example, only the former Chief Executive Officer and the Investments Manager made telephone calls to stock brokers with instructions to buy shares worth a certain amount of money. This is an instance where they had to get a quotation. We were asking that if these shares are floated every day and a share costs Kshs50 today, why must you ask for a quotation of Kshs100, and it may go down the next day to Kshs49? These things were being done very promptly; with a lot of speed, without reference to the parent Ministry and Treasury."
}