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{
    "id": 521153,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/521153/?format=api",
    "text_counter": 207,
    "type": "speech",
    "speaker_name": "Hon. Kobado",
    "speaker_title": "",
    "speaker": {
        "id": 2964,
        "legal_name": "John Owuor Onyango Kobado",
        "slug": "john-owuor-onyango-kobado"
    },
    "content": "of the farmers that take their sugar to SONY come from my constituency, the land is seriously undervalued if you look at what we have in the Report. The land is seriously undervalued and even the factory itself is undervalued. That is one sugar factory that is performing. That is the only sugar factory that is profitable. As we are considering the process of privatisation, this thing needs to be done sequentially. It needs to be done with an arrangement such that we give it time so that we involve public hearings. We can have conferences and we can have written submissions from key stakeholders. The other issue that we need to deal with is corporate governance because as you privatise you can consider privatising in two areas. You can privatise the management of an enterprise and leave the assets intact. If management is the problem we can consider that. There is concessioneering which has also succeeded in other areas like Brazil and so all these need to be put into account. There is need to have shareholding negotiations so that we look at the ratios that they are proposing here. For example, if 49 per cent is supposed to remain with the national Government, this can be converted into trust land so that we only sell the factories. The whole area might eventually become an industry. The factory itself can run the way it is and the whole area at the end might become an industry, so that we diversify and get other products that will be coming from the raw material; sugar-cane. There are so many things we can do. We can use the bagasse to produce electricity. I support this process, but it must be given time. It must be all inclusive. We should all participate, that is, the out-growers, farmers, employees and the county governments. We need to sit down and negotiate the process afresh."
}