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{
    "id": 82545,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/82545/?format=api",
    "text_counter": 368,
    "type": "speech",
    "speaker_name": "Mr. Otieno",
    "speaker_title": "The Minister of State for Public Service",
    "speaker": null,
    "content": " Mr. Speaker, Sir, I am really shocked because hon. Nyamweya is an. hon. Member of this Committee and the Report says that they consulted a lawyer and part of the recommendation is quoting the lawyer verbatim. Honestly, please! This Committee consulted a valuer and he quoted--- Mr. Speaker, Sir, let me clarify that this property was in four parcels plus the road. So, in total, it is five parcels. One valuer only considered 1,195 square meters and he arrived at a value of 1 billion. Our own valuer, the Assistant Commissioner of Lands, valued this property; full value for 1,431.3 square meters. So, the valuer that they may have consulted was inadequate. They consulted an architect that had actually drawn the Embassy in the alternative Government of Japan plot. So, he had actually lost business. And then, they consulted Kenyans in the diaspora who told them that, of course, âRuai is too far; we wish you were near here.â This is a transaction involving foreign exchange rates which we are supposed to compare with construction risks. So, the relevant expert this Committee should have consulted was a foreign exchange risk expert and a construction risk expert in the turbulent Japan as we are talking today. Mr. Speaker, Sir, this Report also mixes Japanese Yens and Kenya Shillings interchangeably. This Report has been misled by the fact that, as we are talking now, the Japanese Yen is almost equal to the Kenya Shilling. So, they have quoted the Japanese Yen value and the Kenya Shilling value as if they are the same. If they had consulted a foreign exchange expert, they would have been told that the only way you determine the correct value of this property is that every value figure should be translated to Kenya Shillings at the exchange rate ruling at the date of the transaction. On that basis, I would like hon. Members to note that the Kenya Shilling depreciated from Kshs60.36 to JY100 in November, 2006, when Amb. Awori first proposed the purchase of this property, to Kshs99.74 to JY100 currently."
}

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