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{
    "id": 349918,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/349918/?format=api",
    "text_counter": 665,
    "type": "speech",
    "speaker_name": "Mr. Githae",
    "speaker_title": "The Minister for Finance",
    "speaker": {
        "id": 159,
        "legal_name": "Robinson Njeru Githae",
        "slug": "robinson-githae"
    },
    "content": " Mr. Deputy Speaker, Sir, I beg to move the following Motion:- THAT, this House adopts Sessional Paper No. 12 of 2012 on Write Off of Excess Government of Kenya Debt Owed By The Public Sector Owned Sugar Companies laid on the Table of the House on Thursday 6th December, 2012. Mr. Deputy Speaker, Sir, what we are trying to do is to recover and privatise some of these companies. But we cannot do this because of the excess debt they have. Even if we were to liquidate all the assets, they cannot meet their liabilities. It is really sad that we have to take this decision. The amount is almost over Kshs40 billion. If we do not do this the COMESA exemptions will expire at the end of this year. Our factories cannot compete with factories in Egypt and Mauritius. You will be surprised that sugar as far away as in Brazil is cheaper when it lands in Mombasa than the sugar produced in this country. So, if we do not privatise change management of these sugar companies, all of them will close down."
}