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{
    "id": 431878,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/431878/?format=api",
    "text_counter": 125,
    "type": "speech",
    "speaker_name": "Hon. Nyamweya",
    "speaker_title": "",
    "speaker": {
        "id": 391,
        "legal_name": "Manson Oyongo Nyamweya",
        "slug": "manson-nyamweya"
    },
    "content": "Thank you, hon. Speaker for giving me a chance to contribute to this Motion but as I said, I oppose the Bill and I have the reasons why I am doing so. I want to refer to Article 206(1)(a) of the Republic of Kenya. It reads: “There is established the Consolidated Fund into which shall be paid all money raised or received by or on behalf of the national government, except money that – (a) is reasonably excluded from the Fund by an Act of Parliament and payable into another public fund established for a specific purpose.” Now, when you see what this Act is trying to do you will find that it is trying to amend Section 57 of the Public Finance Management (PFM) Act. I want to go to Section (c) of this Act which says:- “Disbursed directly to the suppliers where the loan is raised for the purpose of financing goods and services provided by a supplier outside Kenya.” This section offends the Constitution of Kenya. It does not go with what the Constitution of the Republic of Kenya says. All funds raised, be it from an external or internal source should all come into the Consolidated Fund. So, for that reason I am saying that this Bill as it stands now is unconstitutional and to make it worse, Section (d) of that Act says:- “In the case of an external loan all external government security, applied in part, to pay at closing, expenses associated with the borrowing, including but not limited to the fees, commissions, expenses of lenders, financial arrangers, managers and book runners, fiscal agents, trustees, paying agents, exchange and information agents, syndicate agents, 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."
}