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{
    "id": 26433,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/26433/?format=api",
    "text_counter": 421,
    "type": "other",
    "speaker_name": "",
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    "speaker": null,
    "content": "As has been mentioned earlier on, the Cabinet Secretary is obliged to report the execution of the loans within two weeks to Parliament. I would wish that an amendment be initiated to this Bill, so that the Cabinet Secretary will actually give Parliament a statement of intent of all the loans that the Government has been approached to guarantee not necessarily for Parliament to take any action, but for notation, so that we do not stifle the operations of the Executive. After the two weeks upon execution, then the Cabinet Secretary will file a report to Parliament of all the loans guaranteed. He should also file, not only the loans guaranteed, but also those loans that could not been guaranteed and the reasons why the guarantee has not been executed. This will cure any possible mischief of refusing to guarantee a loan of, say, a particular county for personal reasons. The other bit that I want to allay any fears, and I remember my friend here, Ms. Ongoro, talked about it, is where the Cabinet Secretary is supposed to enter into an agreement if he sees clearly that if the borrower is given more time to repay the loan, he will be able to pay. To me, this is really a prudent way of looking at things provided that the terms are properly agreed and it is clear that if there is any extension of time with any additional conditions, the borrower will pay the loan. To me, that is really a good action to take. I support the Bill because the recovery procedures for the loans are clearly spelt out. This is really a good piece of legislation. I support."
}