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{
"id": 1545124,
"url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1545124/?format=api",
"text_counter": 174,
"type": "speech",
"speaker_name": "Sen. Mungatana, MGH",
"speaker_title": "",
"speaker": null,
"content": "do we have the IFMIS, the entire Government system, and the debt management system outside that? Through this report, the Senate is telling the Republic of Kenya that there is a problem in the National Treasury. Something is not right. We are saying that this system of public debt management should be integrated by the 31st of May. A report must be brought here so that Kenyans can know what is truly happening. There is also another issue of transparency here. To enhance transparency and accountability in the anticipated increase in domestic borrowing, the National Treasury should, within 60 days, establish a working committee to develop criteria for assessing the effective utilization of borrowed funds by Ministries, departments, and agencies and establish the registrar of Government securities in accordance with Section 55 of the Public Finance Management Act. Many times, even during the campaigns, the question of accountability, clarity and transparency around our debt has been a big political issue. Unfortunately, when we come into the office, it goes quiet. Why? I ask, why? This working committee is supposed to develop the criteria for assessing the effective utilization of borrowed funds. Sen. Faki has said that money is borrowed, and then projects are not carried out because those borrowed funds have come, and then the component, the Government of Kenya, is supposed to pay off Persons Affected by Projects (PAPs), has not paid them. So, the borrowed funds are in the coffers, but the project is not being carried out, and Kenyans do not see the benefit of this money. This Senate is proposing that we establish a working committee to establish criteria for assessing the effective utilization of borrowed funds. This is another issue that has hurt some of our countries. People borrow money and when they bring this money, they do mega projects. Unfortunately, there is no equity in how these borrowed funds are spread across this county. Yesterday, somebody said here on the Senate Floor that he was shocked to learn that money was borrowed. These monies were supposed to benefit one county, which was supposed to build several hospitals and health centres, while his county got zero. For borrowed funds, we need equity. In fact, when this working committee starts working, they should tell us how much money has been borrowed, for example, Tana River County has benefited from these borrowed funds. We do not need to run for President to benefit from borrowed funds, which all of us are paying taxes for. This country needs to get out of this mentality that “it is our time to eat.” We must develop equity for the rest of our country. I have just been looking at how the money is being spread for these roads. A county like Tana River gets almost nothing, while other counties are dominating the entire money. Those monies are borrowed funds. We are asking these working committees to be fair. They should publish the list. We should be honest in this country to heal the wounds that have created marginalized counties like Tana River. We must start being honest. When we use the Government of Kenya to collect money, the benefits of that debt must be spread across the counties so that all of us, even when we are paying it from this generation to the next generation, we should pay to know that the US$7 billion that was borrowed, we also benefited as a county on this percentage. These statistics are not there. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Director, Hansard and AudioServices, Senate."
}