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{
    "id": 431133,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/431133/?format=api",
    "text_counter": 406,
    "type": "speech",
    "speaker_name": "Hon. Njenga",
    "speaker_title": "",
    "speaker": {
        "id": 1510,
        "legal_name": "Francis Kigo Njenga",
        "slug": "francis-kigo-njenga"
    },
    "content": "Thank you, hon. Temporary Deputy Speaker. I rise to support these amendments. First, the amendments bring in a lot of clarity and simplicity to the PFM Act which gives accountability a chance. It proposes to make more accountable. This is shown by distinguishing between securities that are from the national Government and external securities. Hon. Temporary Deputy Speaker, today I woke up a very disappointed person as I found the media reporting that the Anglo-Leasing compensation, which the country is supposed to pay, is Kshs125 billion. I know very well that the amount at stake was about US$14 million, which will translate to about Kshs1.4 billion. Kenyans have been misled. Earlier befpre these things were done, issues of accountability, clarity and simplicity were not addressed by legislation. The proposed law will address the anomalies that have been facing our country. Most importantly, the smoothening and action, if implemented, would have a positive interface with the liquidity of this country. Borrowing Kshs13 billion worth of bonds to settle a Kshs65 billion debt or thereabout leaves us with an exposure to a further Kshs165 billion. If this money comes to the economy, it will give exposure to money that is available for borrowing by businessmen. If you remember the simple law of demand 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."
}