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{
    "id": 508833,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/508833/?format=api",
    "text_counter": 157,
    "type": "speech",
    "speaker_name": "Sen. (Prof) Anyang- Nyong’o",
    "speaker_title": "",
    "speaker": {
        "id": 193,
        "legal_name": "Peter Anyang' Nyong'o",
        "slug": "peter-nyongo"
    },
    "content": "Thank you, Mr. Temporary Speaker, Sir. I stand really not to support the Bill, but to support the aim of the Bill, for very good reasons. One, I understand that the Government is in the process of rationalization of parastatals. The original objective of the rationalization of parastatals, if I understand it, was to make fewer parastatals, so that they are run more efficiently and cost effectively. However, the exercise has not really meant the objectives, so, we are in kind of quodrum where by the exercise of rationalization of parastatals seems to stand in limbo and it is really hurting privatization. If I remember from our days of the economic recovery strategy for wealth and employment creation, our idea was to make sure that the State works to stimulate investments in the economy, both by the State and the private sector. Looking back into history, the era in which parastatals blossomed in this country, was in 1960s, soon after Independence. They blossomed on the fact that they were aimed at doing two things, one, was to make it possible for the Kenyan State at Independence time to intervene effectively in the economy so as to promote investments and Africanization. When the State corporations were first established in the 1960s and quite to some extent into the 1970s, they were very effective and efficient. They stimulated this economy quite a bit and the era of very fast economic growth in this country was really between the 1963, 1972 and quite a bit of the 1970s. I say 1972 because in 1973, we had the oil crisis and that affected the growth of this economy quite substantially, indeed, the growth most of third world economies. Mr. Temporary Speaker, Sir, what is important about parastatals, during the first ten years of Independence and, indeed, the civil service, was their efficiency. They were professionally run and they met their objectives. The development of agriculture in this country could not have occurred without the intervention of such bodies, like the Agricultural Finance Corporation (AFC) and the Agricultural Investment Bank (AIB). The moment parastatals started to be mismanaged and to serve individual interests, then, they started going down. When I was the Chairman of Public Investment The electronic version of the Senate Hansard Report is for information purposes only. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}