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{
    "id": 26427,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/26427/?format=api",
    "text_counter": 415,
    "type": "speech",
    "speaker_name": "Mr. Wambugu",
    "speaker_title": "",
    "speaker": {
        "id": 149,
        "legal_name": "Clement Muchiri Wambugu",
        "slug": "clement-wambugu"
    },
    "content": "Thank you, Mr. Temporary Deputy Speaker, Sir. I rise to support the Bill. I think it is a good piece of work. However, there are various issues which have been raised and which have been of concern to me. First and foremost, I am finding the country getting into a situation of over-borrowing because if we get all the counties coming with their requests, we could get to a situation where so much has been borrowed and being guaranteed by the Government. In case something goes wrong, the whole burden will go to the national Government and all Kenyans will be responsible for that. I would propose that we have a limit of how much the Government can guarantee. We could have a total sum nationally. Clause 4 raises a concern that all Members who have spoken before me have highlighted. It would not be right to let the Cabinet Secretary transact all the business and then come to report to this House. I would propose that Clause 4(1), subject to Clause 2, should read: “The Cabinet Secretary may guarantee the loan of a borrower on behalf of the government with the approval of Parliament.” He should not get into any transactions unless Parliament is involved. Clause 4(2)(a) says that the loans should be for capital projects. It should be a revenue generating project. I believe that if we go towards that direction, projects like roads will not necessarily be revenue generating but, in the long run, they will enhance revenue generation. I feel that Clause 4(2)(a) should state that the loan should be for capital projects, and that is all. The other conditions of repayment should remain. With the experience that we have had in this country, the national Government has entered into loans without involving Kenyans. I believe that is why the livelihood of Kenyans has become very expensive. We have to repay back loans which we do not have knowledge about."
}