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{
    "id": 632421,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/632421/?format=api",
    "text_counter": 128,
    "type": "speech",
    "speaker_name": "Hon. Ferdinand Waititu",
    "speaker_title": "",
    "speaker": {
        "id": 147,
        "legal_name": "Ferdinand Ndung'u Waititu",
        "slug": "ferdinand-waititu"
    },
    "content": "Thank you, Hon. Temporary Deputy Speaker. I rise to support this Bill. First, I want to thank the Mover, Hon. Jude Njomo. It is in public domain that Kenyans are being exploited by banks. All of us in this House, from both sides are in agreement that we need to do something so that interest rates can be controlled. Before, the petroleum industry was exploiting Kenyans by increasing pump prices any day they thought it necessary. But when the Energy Regulatory Commission (ERC) started regulating the pump prices, it has succeeded in controlling prices of petroleum. Petroleum companies have become used and are no longer complaining. When it started they were up in arms against the introduction of the controls. We know very well that if the same happens to the banks they will become used. After some time, they will just make the normal profits any industry is supposed to make. Right now, all banks are making exorbitant profits by exploiting Kenyans. When any Kenyan takes a loan, he or she usually has a budget on how to repay it. However, people get surprised to see the bank statement with a figure that they do not expect and this destabilises their financial arrangement. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor."
}