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{
    "id": 224849,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/224849/?format=api",
    "text_counter": 223,
    "type": "speech",
    "speaker_name": "Mr. Syongo",
    "speaker_title": "",
    "speaker": {
        "id": 316,
        "legal_name": "Zaddock Madiri Syong'oh",
        "slug": "zaddock-syongoh"
    },
    "content": "Mr. Temporary Deputy Speaker, Sir, I would like the Minister to clarify one issue. I do not know whether it is true or not but there has been talk of diluting the portfolio of KenGen by removing the components related to geothermal and setting up another entity to produce and sell electricity from systems other than hydro. The original purchasers of shares of KenGen purchased them on the understanding that it was a wholesome company with the entire portfolio intact. Now, we are removing one significant portfolio; that is, geothermal and others, from the rest of the portfolio. I would like the Minister to clarify this issue for the sake of the credibility of our Capital Markets Authority and the thriving of the Nairobi Stock Exchange. It is extremely important! I am glad that one of my colleagues has already mentioned that there has been a significant drop in the overall stock prices in this country. Many Kenyans have lost a substantial amount of money. They bought shares at very high prices and, suddenly, the prices went \"puff\", down! It is daylight robbery! We must do something so that we put back confidence in the Nairobi Stock Exchange. This is very important because the Kenyan capital market is the leader in the whole region, and we need to maintain that credibility. Mr. Temporary Deputy Speaker, Sir, on the Recurrent Expenditure, hon. Maore has mentioned something about teachers. Yes, it is very good to pay more salaries to teachers who are 854 PARLIAMENTARY DEBATES April 24, 2007 currently in the payroll. Fine, but if you look at the pupil:teacher ratio, there is such a huge shortage of teachers in all our primary schools, especially because of free education! The Government needs to provide additional funds to employ more teachers and not just looking at paying or rewarding teachers who are already in the payroll and ignoring the glaring disparity between pupil enrolment and the number of existing teachers in primary schools! Finally, Mr. Temporary Deputy Speaker, Sir, I would like to appeal to all my colleagues; the economy is growing. Let us not send misleading signals to our people! Let them take advantage; let us agree that the economy is actually growing, it is springing up, so that they are all prepared to take full advantage of this definite growth in the economy. But if we deny it and say that it is not growing, as hon. Nyachae mentioned, foreigners will come and take advantage, but we shall continue to be blindfolded and we shall not take advantage of the growth of the economy."
}