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{
    "id": 846679,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/846679/?format=api",
    "text_counter": 206,
    "type": "speech",
    "speaker_name": "Kipipiri, JP",
    "speaker_title": "Hon. Amos Kimunya",
    "speaker": {
        "id": 174,
        "legal_name": "Amos Muhinga Kimunya",
        "slug": "amos-kimunya"
    },
    "content": "I concur with the Members who have contributed. I am an advocate of free markets interventions and letting the markets decide on what happens. However, that market can only operate where there is a conducive environment for a mature market. We need to look at the Kenyan market and financial sector. As much as we are one of the most advanced countries within Africa, do we have a free market economy? We only have a couple of banks which control the entire banking system. That is not the definition of a free market economy. On that basis, market failure then determines that some interventions are necessary. We did it in the petroleum sector with capping oil prices because the oil cartels always used to do that. They never minded the fluctuations in the oil industry at the international level."
}