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{
    "id": 260481,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/260481/?format=api",
    "text_counter": 498,
    "type": "speech",
    "speaker_name": "Prof. Olweny",
    "speaker_title": "The Assistant Minister for Education",
    "speaker": {
        "id": 122,
        "legal_name": "Patrick Ayiecho Olweny",
        "slug": "patrick-olweny"
    },
    "content": " Mr. Speaker, Sir, I beg to oppose the Motion. My reason for that is that I am concerned about the economy of this country. What is happening to the economy of this country? There was a proposal that when the Finance Bill is brought here, we will take measures to deal with interest rates which have gone so high in this country. The banks are making huge profits and the people who have borrowed from the banks are currently suffering because of those interest rates. Businesses and investments for some of them are about to collapse. That is why, in my feeling, we should have handled this issue before we go home. The banking industry, to me, has formed a cartel. They rip huge profits. When you go there, you will find that few people are employed there. They make so much money and so little is pumped into the employment sector. They have employed very few people. They basically use computers to do business. We have strained day in, day out in this country. Kenyans are suffering. This Parliament has the responsibility of helping Kenyans. Sometime early this year, around the month of March, someone walked into my office and gave me a story which I did not want to believe. I thought it was hearsay and I treated it so. He told me that in one of the hotels in this country, some people met and their deliberations were relating to the economy of this country and that the Kenyan shilling was going to be devalued very seriously and it is going to affect the economy of this country badly. I considered it hearsay. I did not believe it. But when it came to October, it came to pass that it happened, I called him and reminded him that what he had told me had come to pass and that the Kenya shilling was seriously devaluated, interest rates are going up and there are very many strikes all over the country. He told me that a group met in a hotel and planned all the things that happened. He also gave me information to pass to responsible Kenyans. There is a Parliamentary Committee here. He also wanted me to pass that information to the Prime Minister or any other person who would help but I considered it hearsay. That is why there are a few people who have benefitted from what is happening in this country. It is up to this Parliament to come out and help Kenyans."
}