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{
    "id": 203638,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/203638/?format=api",
    "text_counter": 296,
    "type": "speech",
    "speaker_name": "Mr. Sungu",
    "speaker_title": "",
    "speaker": {
        "id": 324,
        "legal_name": "Gor Eric Sungu",
        "slug": "gor-sungu"
    },
    "content": "Mr. Deputy Speaker, Sir, with a light touch - he is my friend - I think he was not the one who was talking. But I was distracted. Nevertheless, it is in good jest and I do not mind. Mr. Deputy Speaker, Sir, we are dealing with Government borrowing in Kenyan currency of such amounts and terms which may accrue interest, repayments or otherwise, as the Minister may determine. There is the issue of Government securities, advances from the Central Bank of Kenya, bank overdrafts or any other loans or credits. I am glad to say that they are actually amending the principal Act and defining Government securities as valid and binding to the Government. They are issued in accordance with the terms and conditions of that issue. They are registered in the register as a debt security. Nothing could be more important. We have many cases of pending bills, which do not necessarily fall here. But many undefined Government debts have continued to burden Kenyan taxpayers without proper definition, knowledge and parameters. We do not know exactly what they are. Although they appointed a Committee to look into that issue, it has not been resolved. So, I am glad to note that you are now putting a law in place to ensure that internal loans are properly regulated. I would only say that, that should be in good faith. Mr. Deputy Speaker, Sir, with those few remarks, I beg to support."
}