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{
    "id": 252516,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/252516/?format=api",
    "text_counter": 309,
    "type": "speech",
    "speaker_name": "Mr. Michuki",
    "speaker_title": "The Minister of State for Administration and National Security",
    "speaker": {
        "id": 183,
        "legal_name": "John Njoroge Michuki",
        "slug": "john-michuki"
    },
    "content": " Mr. Speaker, Sir, hon. Okemo knows very well that when I talk about the economy, I am talking about the Supplementary Estimates. It is the economy that produces the kind of money that we are looking for. I was saying that the KenGen initial public offer attracted from the public Kshs20 billion. This was from ordinary Kenyans who bought 500 shares each. If you noticed, since the offer was floated, there were queues at every bank which had offered to assist in giving loans that were required by our ordinary people. People who could not afford to buy more than 500 shares at Kshs11.90 eventually raised Kshs20 billion. The shares were worth Kshs7.8 billion and the balance of over Kshs12 billion has to be surrendered back to the banks. The article that I am drawing your attention to is anticipating that interest rates will go down because of the high liquidity. We have to create a demand to absorb that money. Mr. Speaker, Sir, the Supplementary Estimates provided for the construction of 334 dams last year in Arid and Semi-Arid Lands (ASAL) areas. These dams are meant to collect water that can be used by the whole Kenyan population of 33 million people for six days. Also, 288 boreholes were dug last year. I am sure the hon. Members on the other side of the House are aware of these facts. I will not comment on the allegations about the Cabinet appointments because there is not much there to comment about. In my opinion, it was hot air. The law is quite clear and the authority of the Government is well understood. Mr. Speaker, Sir, if this authority is exercised to the disadvantage of certain people who 656 PARLIAMENTARY DEBATES April 25, 2006 made themselves unfit to be in the Government, it is nothing to worry about. Finally, any Government---"
}