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{
    "id": 192726,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/192726/?format=api",
    "text_counter": 195,
    "type": "speech",
    "speaker_name": "Ms. Ongoro",
    "speaker_title": "The Assistant Minister for Nairobi Metropolitan Development",
    "speaker": {
        "id": 125,
        "legal_name": "Elizabeth Ongoro Masha",
        "slug": "elizabeth-ongoro"
    },
    "content": " Thank you, Mr. Temporary Deputy Speaker, Sir. As I was saying, every department and Ministry, especially those in charge, should, therefore, ensure that their expenditures are controlled so that we control Government expenditure. Mr. Temporary Deputy Speaker, Sir, it concerns me that the bigger picture of capital development is not visible from the Estimates presented in the Budget. For example, where the Government's plan has been presented and approved to undertake a project, say, what was presented concerning the police housing units, we are not told what the allocation is per year. So, what is presented is blanket and it makes it very difficult for anybody to know what has been allocated, especially for ongoing projects. Mr. Temporary Deputy Speaker, Sir, I want also to comment on capital market reforms. While I recognise the proposed reforms and requirements to deposit with the Central Bank of Kenya and raise capitalization for the banks, I feel that the measures to deter rogue bankers from exploiting the Kenyan public should have been made more punitive. In my opinion, the 5 per cent that is proposed as a penalty for insurance brokers who keep clients money and refuse to release it is not punitive enough. When they refuse to comply and sometimes we suggest that the companies should be wound up, the sufferer is still the client. It is my opinion that we propose a lifting of the corporate veil so that we could have an opportunity to punish company directors and major shareholders in such instances. This is the only punitive measure that could deter such rogue operators. Mr. Temporary Deputy Speaker, Sir, on the issue of taxes on crude oil, which I believe controls many other sectors and the rising commodity prices--- The Minister has gone ahead and even zero-rated rice, bread and other commodities, but we all know that while this is happening, the pump price has not been controlled. Controlling the commodity prices---"
}