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{
    "id": 507811,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/507811/?format=api",
    "text_counter": 270,
    "type": "speech",
    "speaker_name": "Hon. Limo",
    "speaker_title": "",
    "speaker": {
        "id": 1915,
        "legal_name": "Joseph Kirui Limo",
        "slug": "joseph-kirui-limo"
    },
    "content": "the economy because they have been left to deteriorate to the extent that they cannot add value. Late last year and early this year, the Government has recommended merging or seriously restructuring parastatals. That is actually a good way of ensuring that public resources are well utilized. We are going to support her. If they are not going to be restructured in that way, it will be very futile to bring those parastatals to a state where they are going to be useful in this country. I have wondered how assets like houses are lying on pieces of lands. We know from an accounting perspective that houses have appreciated. They are not going to lose value. That is because as the economy grows and as time goes by, the value of land and buildings will not cause any losses. If you look at parastatals like Kenya Reinsurance Corporation Limited (Kenya Re), there was a time they lost Ksh88 million through sale of houses. They should apply prudent decision-making techniques where they have a reserve value. They cannot sell below the reserve price. This is a very clear pointer of craftiness where people sell Government buildings at a loss because they have a serious conflict of interest. This Report has very serious recommendations but I had already said that my worry is whether those actions can be taken now because of the lapse of time."
}