Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 435133,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/435133/?format=api",
    "text_counter": 352,
    "type": "speech",
    "speaker_name": "Hon. Langat",
    "speaker_title": "",
    "speaker": {
        "id": 384,
        "legal_name": "Benjamin Kipkirui Langat",
        "slug": "benjamin-langat"
    },
    "content": "Public Financial Management (PFM) Act. One of them, and about which the hon. Members have been complaining, is the time this House has to address the issues of Budget, the timing of the Budget Policy Statement. In most of the times we work on the last day to address Budget issues. Hon. Speaker, my Committee has looked at that matter and, maybe, at the Committee Stage, we will want to re-look at the issue of timings of the Budget Policy Statement, so that we give the House more time to look at it. Also we will give the House more time to look at the Estimates. This is because most of the time we burn the midnight oil to meet the deadlines. Therefore, this could be the opportunity to address some of the issues. My Committee will bring proposals to that effect once we agree as Members of my Committee. Hon. Speaker, I agree that some provisions in the Bill are not right, as mentioned by hon. Ng’ongo. For example, when you talk about amendments to Clause 5, which is introducing a new Section 53A (1), subclause (6) says:- “An external loan or external government security may be executed on behalf of the national government only by— (a) the Cabinet Secretary; (b) a delegate appointed by the Cabinet Secretary, in writing; or (c) a borrowing agent appointed for the purposes of this Act.” I think the Committee also observed and said that clause talks of an agent, but it is not very clear on who actually appoints this agent. It is not even whether the appointment is a right. Therefore, my Committee will bring an amendment to this, so that it is very clear who appoints the agent and in what circumstances that agent can be appointed. Hon. Speaker, there is also Clause 3 which states that the proceeds from loans can be used to pay suppliers directly. I think there is an issue and my Committee will really tighten that clause. That clause proposes that we net off the borrowing expense from the loan. I think to really have clarity we should ensure that we separate the expenses from the proceeds so that it is very clear how much cost we have incurred to borrow particular loans. Hon. Speaker, I want to request the House to support these amendments, so that we can play in the international market. Kenya is now a serious economy, especially in the East African region. Already Rwanda is ahead of us. They are borrowing externally and I think Kenya is ready; we must support that. Let us emulate them and also play at that level. With those few remarks, I want again to ask hon. Members to, for the purpose of the Committee Stage, obtain the report of my Committee, and look at the details and the proposals that we have worked out. We are still consulting with Treasury on one or two things, so that we finalize those amendments and finish with this Bill. This is a fairly short Bill and I want to request hon. Members to support it. Thank you."
}