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{
    "id": 209908,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/209908/?format=api",
    "text_counter": 131,
    "type": "speech",
    "speaker_name": "Mr. Syongo",
    "speaker_title": "",
    "speaker": {
        "id": 316,
        "legal_name": "Zaddock Madiri Syong'oh",
        "slug": "zaddock-syongoh"
    },
    "content": "I think that is a very reasonable position and it is an honest one. With the benefit of hindsight, we are saying that, under the current law, the determination of who buys, under what terms and conditions he buys assets and institutions which belong to the public, is in the hands of a small clique of officers in the Treasury. The purpose of this Motion is that it should be open, and must now be vested in an institution which represents the public and the taxpayers; and that is Parliament. Therefore, I support the idea because even where the decision is to privatise by selling shares of parastatals to the public, or to Kenyan citizens, through the Nairobi Stock Exchange (NSE), the decision, and even the terms and conditions, including the price at which you transfer these assets, is made by this small clique and the Capital Markets Authority (CMA). Even more serious is that the actual implementation is done through a small number of stock brokers in the NSE. They dispose of assets which belong to us. Thereafter, they, within themselves, decide on who the secondary buyers of these stocks are, so that you transfer assets which belong to us all into private hands through a mechanism which is not transparent, and is not open to interrogation by the Kenyan public. I do not wish to take any more time and I support this Motion fully. I hope that the Government Responder, whom I know is a fairly straightforward officer in the Treasury, will support it, so that we quickly amend the Act before all the parastatals and assets, which belong to the Kenyan public, are transferred to a few individuals in this country. Mr. Temporary Deputy Speaker, Sir, with those few remarks, I beg to support."
}