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{
    "id": 269462,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/269462/?format=api",
    "text_counter": 273,
    "type": "speech",
    "speaker_name": "Dr. Oburu",
    "speaker_title": "The Assistant Minister for Finance",
    "speaker": {
        "id": 194,
        "legal_name": "Oburu Ngona Odinga",
        "slug": "oburu-odinga"
    },
    "content": " Mr. Speaker, Sir, hon. Mbadi says that we misled the Committee that there was money and yet there was no money. In fact, Kshs2 billion was available. The Statement which I issued here arose from a question which was not asking the Government why it has not allocated dividends money, but why it had not allocated money from the sale of the preferential shares from KPLC. The recommendation of the Committee was not on the proceeds from the shares which were sold. The source of the money was from dividends. But the question we were asked is whether there was money there. We stated clearly that there was no money there. What we received was just a small profit from the rights issues which was a separate issue from the preferential shares.The source of the money was the dividends. What we received was just a small profit from the rights issue, which was a separate issue from the preferential shares. So, there was no money which was due as proceeds from the conversion of the redeemable shares into ordinary shares. That was what actually the answer was."
}