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{
    "id": 508839,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/508839/?format=api",
    "text_counter": 163,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "we can get enough domestic supply of fertilisers. If, indeed, our aim as a government was to make sure that we develop a domestic fertiliser industry which will stop us from importing fertiliser from abroad and, therefore, cushion us from using the rare foreign exchange for importing fertiliser, I would definitely be very happy. Today, we were meeting the Cabinet Secretary in charge of Treasury and the Governor of Central Bank of Kenya (CBK), my colleague Prof. Njuguna, as a Committee of Finance and Budget. One of the questions we were raising is: How do we, as a country, ensure that when our shilling depreciates, it helps exporters. Exporters will earn more shillings when they sell our exports abroad. How does this turn around to help our consumers who consume imported goods? The response they gave us is that as the shilling depreciates and exporters from here benefit, we should invest more in the domestic economy to stimulate domestic production for consumer products like household goods and factor inputs like fertilisers to farmers. It is time that, as we pass Bills, we see how they fit into the overall framework of the economy as a whole. Let us not pass them piecemeal looking at one sector and not realizing how that will affect the macro-economy in our nation. I do believe that my fears will be answered when we ask two questions: First, if, indeed, there is an existing fertiliser board for which we are amending the law, what has so far been the balance sheet of the Government’s intervention in the domestic production of fertilisers? The results are very poor."
}