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{
    "id": 513279,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/513279/?format=api",
    "text_counter": 280,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "corporate social responsibility. However, others have done completely nothing. This Bill does not seek to do away with the corporate social responsibility, but to also ensure that those who do not do it at the moment must do, at least, the minimum which is set out. Mr. Temporary Speaker, Sir, regarding the royalties that are currently payable and collected by the national Government, there is no portion assigned to conserve that particular resource. There is no provision for sustainable conservation or replenishment of the resources. This Bill seeks to ensure that the portion of the royalties go for the purpose of that resource, you plough it back so that, that resource can push us further. The sovereign fund that this Bill seeks to establish has not been there because the resources we have are finite. Some resources like minerals for, maybe 30 or 50 years and yet we owe it to future generations that they also benefit because it is of no use for this generation to exploit it and deny future generation. This Bill is sensitive to that and has made a percentage for a sovereign fund, a certain provision of royalties to be deposited in a sovereign fund whereby future generations will draw the benefit. Mr. Temporary Speaker, Sir, the decisions as to how much royalties should be paid in the administration of that fund to ensure that it goes for the proper use as envisaged in the Bill is no longer a discretionary matter of one person. The Bill seeks to establish an institution comprising of several players who represent different interests, including the local communities and the counties because there is devolution; matters of natural resources are not a preserve of the national Government. The county government has a stake. The county government now has a forum or a place where they can have their representative and this national board can therefore make decisions as far as royalties are concerned. The issue of collection of these royalties has been a matter of concern because some institutions collect and some contract out to certain firms. This Bill seeks to place it in the authority that is mandated to collect any other levies or taxes. With those few remarks, I support."
}