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{
    "id": 26388,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/26388/?format=api",
    "text_counter": 376,
    "type": "speech",
    "speaker_name": "Mr. Mbadi",
    "speaker_title": "",
    "speaker": {
        "id": 110,
        "legal_name": "John Mbadi Ng'ong'o",
        "slug": "john-mbadi"
    },
    "content": "Secondly, once the guarantee is done, if the decision is made by an individual or a particular office, how will we ensure that the guaranteed loan is beneficial to the entire country? As I have said, guaranteed loans are part of the resources of the country. So, the whole country should be sure that they stand to gain from the guaranteed loans. If we are guaranteeing loans to entities, how will we treat those entities with substantial private ownership because that has been a big issue? We have been guaranteeing loans even to KenGen which has substantial private ownership. This, therefore, means that we are transferring public resources to private hands because the Government has shares but there are also other individuals who will benefit from the profit accruing as a result of the investment which the entire country has invested in. So, we need to be very clear as to what will happen to those entities that the Government will guarantee loans to but have substantial private ownership. If you look at Clause 6, you will find that it is okay that any amounts payable under guarantee shall be a charge and payable out of the Consolidated Fund without further appropriation than this clause. As I said earlier on, there is need for Parliament to be involved before this guarantee is done."
}