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{
    "id": 193808,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/193808/?format=api",
    "text_counter": 227,
    "type": "speech",
    "speaker_name": "Dr. Khalwale",
    "speaker_title": "",
    "speaker": {
        "id": 170,
        "legal_name": "Bonny Khalwale",
        "slug": "bonny-khalwale"
    },
    "content": "On a point of order, Mr. Deputy Speaker, Sir. The issue that is about to be responded to by the hon. Assistant Minister is very important. It is so important that the Public Accounts Committee (PAC) has ordered for a special investigation into the Initial Public Offer (IPO) of Safaricom Limited and Telkom. Mr. Deputy Speaker, Sir, I am seeking the indulgence of the Chair - and I have discussed with the Assistant Minister - that we defer this Ministerial Statement until that special audit is concluded. That is because it is raising very important issues; including the fact that, the figures that are being shown to have been realised by Safaricom are, in fact, a net loss to the public. In fact, if we allow what took place to be the way of doing business in this country, it will mean that we have created a loophole through which the Government will - because of vested interests - be denying the watchdog Committees an opportunity to question affairs like that. In this case, as a result of this privatisation, both Safaricom and Telkom are now free from the watchdog role of Parliament. Mr. Deputy Speaker, Sir, I am requesting for that indulgence because in the special audit, we want to find out the real identity of the so-called foreign investors. We fear that the so-called foreign investors are actually Kenyans who are masquerading as foreign investors when all they did was simply to go out of the country and create offshore companies that they floated around and bought into that IPO. Mr. Deputy Speaker, Sir, in that special audit, we are raising important matters, including the disregard of the law. That is because this House passed the Privatization Act. In the process of that IPO, the Privatization Act was ignored or subverted because the Commission that was supposed to participate in that IPO--- The operationalisation of the law was done after that exercise had been concluded. Finally, Mr. Deputy Speaker, Sir, I beg for your indulgence because this is a very important---"
}