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{
    "id": 1545690,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1545690/?format=api",
    "text_counter": 245,
    "type": "speech",
    "speaker_name": "Sen. Maanzo",
    "speaker_title": "",
    "speaker": {
        "id": 13589,
        "legal_name": "Maanzo Daniel Kitonga",
        "slug": "maanzo-daniel-kitonga"
    },
    "content": "Thank you, Madam Temporary Speaker, for giving me an opportunity to comment on this very important Report and also thank the Committee for making an attempt to look for solutions for this big problem of debt management in the country. I also thank the Senate Majority Leader for giving a way forward, which is more detailed than what the Committee had proposed. You truly have been in the House for many years. If you rely on the National Treasury, you will never get a solution. In fact, we are supposed to be overseeing the National Treasury, but the technocrats there have been mis-advising the Government most of the time yet they do not take any political responsibility. They are not accountable to the people as such. So, we end up finding ourselves with a very big problem. I have looked at the recommendations and found one which is very moving. We should even begin practicing it. It talks about, inclusion of other forms of debt instruments in the future such as Islamic bonds called Sukuk; given bonds to attract ethical and climate-conscious funding. We have been going to the West. The practice with the Islamic financial dealing is that, it is not haram. It does not exploit and has minimum profits. Unfortunately, in order to finance our budget, we still have to borrow. We should start borrowing from friendly nations, which are not going to gain high profits. We can also renegotiate some of the loans because the charges are too high. Some of the countries and organisations which have been funding us are very exploitative to our economies. If we do this, we will do much better. Most importantly, when we get borrowed money, we should utilise it correctly to generate economic activities in the country. We borrowed money from the African Development Bank to develop Thwake Dam. The Government has its own share of contribution just like the bank. However, we delay, and waste time on these contracted projects yet we have contractors on the ground. The government does not perform nor does it make its request in good time. When we delay, the project becomes more expensive and the charges accrue. Therefore, we need to look for friendly funding, as it has been suggested by the Committee, and at the same time utilise the money well. We cannot borrow money, put it in our budget and it ends up being donated in roadside declarations. The President’s advisors should always have the Budget Policy Statement with them, so that when the President or any other person makes promises, they bear in mind what has been budgeted for. If you make promises on projects which are not budgeted for that year, which are not in the Committee of Supply, or which were abandoned a long time ago, you will you reorganise the budget process of the country. This means we are going to get into bigger problems because of politics. Kenyans in every region, want developments. Every region needs roads. There are some important roads in places in Makueni County like the Emali-Ukia Road which passes through rich fruit-growing areas. For ease of movement of the fruits to the international markets those roads must be done. 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."
}