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{
    "id": 570864,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/570864/?format=api",
    "text_counter": 21,
    "type": "speech",
    "speaker_name": "July 15th, 2015 SENATE DEBATES 5 Sen. Khaniri",
    "speaker_title": "",
    "speaker": null,
    "content": "Mr. Speaker, Sir, in trying to justify why there was the increase of the share capital from Kshs1 billion to Ksh5 billion, the Chairman says that the Cabinet Secretary informed him that the banking sector should play a catalytic role to achieve Vision 2030. That is what informed their increase from Kshs1 billion to Kshs5 billion. How can they play a catalytic role when the local entrepreneurs are being locked out? I can assure you that, locally, no one can amass or raise the Kshs5 billon that they have put. Will this figure apply only to foreign investors so that local people are exempted? The figure for the local people should remain at Kshs1billion. In answering whether there was public participation, the Cabinet Secretary is telling us that he expected that when people participated in the Budget-making process, it was to also cover this particular issue. We expected a proper structured public participation for such a policy to be implemented. Could they consider shelving this particular policy until the public is properly consulted as required by the Constitution?"
}