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{
    "id": 509328,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/509328/?format=api",
    "text_counter": 69,
    "type": "speech",
    "speaker_name": "Hon. Njuki",
    "speaker_title": "",
    "speaker": {
        "id": 1372,
        "legal_name": "Onesmus Muthomi Njuki",
        "slug": "onesmus-muthomi-njuki"
    },
    "content": "Thank you, hon. Speaker. From the outset, I stand to support this Motion. Risks in any entrepreneurship must be taken. In this particular case, what normally yields results are calculated risks. It is only prudent to imagine that all of us want development. If you look at what has been put in place at the moment to achieve the millennium development goals, we cannot get there unless we make sure that the flagship projects have actually been implemented. These flagship projects demand a lot of finances. For example, the Standard Gauge Railway, LAPSSET and the 10,000 kilometers of tarmac road that every constituency and every hon. Member of Parliament wants, cost money. At the moment, there is a crisis of energy in Kenya where we have about 1,400 megawatts in terms of demand and a production of about 1,300 megawatts. This puts our country in a very precarious situation as far as investors who require energy are concerned. Therefore, for us to attract investors, we need to bring that energy up to 5,000 megawatts. This cannot happen unless we invest in that area. Hon. Speaker, the flagship project of increasing the acreage under irrigation to 10 million cannot happen unless we have finances. The electricity that we are taking to every secondary and primary school in this country requires money. There is something wrong with borrowing money that does not have a purpose. If you borrow for a purpose and that purpose is not only for accomplishment of the recurrent expenditure but for development purpose, it will definitely be paid. If you look at the projects that are supposed to be funded, all these are meant to increase the Gross Domestic Product (GDP) from 6 to10 per cent. Each one of these projects is supposed to start development. Look at the transport sector; we are wasting a lot of money. The congestion of our roads from Mombasa all the way, costs us money. If we do not develop the railway system, it will cost us much more. Hon. Speaker, what has been recommended by the Committee is not giving a blanket ceiling on borrowing; it is only for the purpose of planning, because there is no way you are going to plan unless you know where the money will come from. The reason why we are asked to increase the ceiling is only for the purpose of planning. Even as we plan to have projects that will cost Kshs. 1.2 to Kshs.1.3 trillion, we need to have enough money. This is like an overdraft; when you take an overdraft from a bank, you do not have to use it unless you have a purpose for it, because it is money you are going to pay back. If we shy away from increasing this ceiling, we will be stuck with the current problems that every underdeveloped country experiences. Hon. Speaker, we know that in the past we have had debts that have had issues because of non-payment or slow payment. We have been losing money because of poor financial management. Currently, we know tax collection by the Kenya Revenue Authority (KRA) has improved. This is because the systems that have been put in place will ensure reduced wastage and collection of much money. We cannot have our cake and eat it. We have to decide whether to be stuck with projects that have no funding and stay in the same position as we have been, or increase our ceiling and be able to borrow when we need the money and experience development. With those few remarks, I support."
}