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{
    "id": 431121,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/431121/?format=api",
    "text_counter": 394,
    "type": "speech",
    "speaker_name": "Hon. Gikaria",
    "speaker_title": "",
    "speaker": {
        "id": 2489,
        "legal_name": "David Gikaria",
        "slug": "david-gikaria"
    },
    "content": "Hon. Temporary Deputy Speaker, I take this opportunity to support the PFM Act amendment as regards issues to do with a sovereign bond. I also want to thank the Chairman of the Departmental Committee on Finance, Planning and Trade. This goes a long way in showing how the Government is caring for its people. This Government is law abiding. They want to follow the due process of the law, and that is why these amendments have been brought here; this was done after realizing that the Government cannot continue without them in place. This Government is also confident. It is very sure of itself; nobody will want to go and place himself in this situation if he knows that he is not going to be attractive, or if he knows he is not strong enough to compete with other economies. At one time within the Municipal Council of Nakuru, we tried to float bonds but nobody wanted to get them because they were not very sure that we were strong enough financially to float the bonds. Something has already been said about the interest rates but the Government cares for its citizens. We wanted to bring back the Donde bill, but with this kind of an amendment, I want to believe that it can be shelved; the Government can borrow externally and leave internal borrowing to the common mwananchi and local business people. Under the Budget Policy Statement (BPS) of 2013, it was projected as, Hon. A.B. Duale indicated, that Kshs130 billion was needed. We have also been told that by the coming month we will have a debt of Kshs52 billion. If these amendments go through, then Government will actualize what we passed under the BPS, so that we can repay part of the debt and, by extension, do business with other countries. Recently, there was an amendment that was supposed to be brought to the Floor of the House to reduce the percentage that the non-governmental organizations (NGOs) are going to get. With the input of NGOs, which have assisted this country to greater heights, this amendment will also actualize the partnership with other countries and The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}