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{
    "id": 327072,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/327072/?format=api",
    "text_counter": 810,
    "type": "speech",
    "speaker_name": "Mr. Orengo",
    "speaker_title": "The Minister for Lands",
    "speaker": {
        "id": 129,
        "legal_name": "Aggrey James Orengo",
        "slug": "james-orengo"
    },
    "content": " Mr. Temporary Deputy Speaker, Sir, I really want to persuade the hon. Midiwo that bringing this amendment the way it is coming will not be very useful because it will require restructuring the entire financial and capital market. I know the example in Brazil. It was not done piece meal. You have got to look at the financial market globally in order to make such kind of intervention. What I am worried about - because I have specific examples - there was a time when through an Executive Order, Treasury directed that all monies held by the State or institutions in which the State had interest should be put in Government financial institutions. The effect of it actually was disastrous. I did a lot of cases involving the National Bank of Kenya and I want to confess that public money which was put in Government financial institutions, all of it went away. In fact, the National Social Security Fund (NSSF) came in because workers were now to make up for the messes that had been created through these kind of financial interventions which had not been well-thought out. So, I want to plead with Midiwo. In fact, I would go your direction but I think you need to look at the financial market as a whole in order to make---"
}