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{
    "id": 855035,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/855035/?format=api",
    "text_counter": 204,
    "type": "speech",
    "speaker_name": "Sen. Mwaura",
    "speaker_title": "",
    "speaker": {
        "id": 13129,
        "legal_name": "Isaac Maigua Mwaura",
        "slug": "isaac-mwaura"
    },
    "content": "Thank you, Mr. Deputy Speaker, Sir. I rise to speak to this Bill with regard to PPPs, both at the national level and, in particular, at the county level. This is a new impetus to the way we finance our public facilities or projects. It is important to note that we are in this realization because of the rising debt. Recently, the International Monetary Fund (IMF) revised our Debt to Gross Domestic Product (GDP) ratio at 63 per cent, yet the red line is at 72 per cent. If we are to borrow the monies that we anticipate to finance the otherwise ambitious Kshs3 trillion budget, we are likely to go beyond the ceiling. This is not very good because there are serious challenges of liquidity and cash flow management in the projects that we have put in place, which are now in terms of billions. For the last few years, the cost of doing projects in this country has escalated inordinately and disproportionately to the growth of the economy. Mr. Deputy Speaker, Sir, as a lower middle economy, we need to look at alternatives, because by the end of the day, the common mwananchi wants to be provided with services, but the demand is still very high. Mr. Deputy Speaker, Sir, the challenge that we have is that the current framework for the PPPs does not give proper guidelines with regards to what needs to be done. In fact, the only successful PPP that has happened in this country is Jomo Kenyatta University of Agriculture and Technology (JKUAT) Hostel Project, where we also had some challenges. However, there are so many engagements that are happening below the radar. A good example is the contentious issue of Githurai Market around the Githurai 45 roundabout, where there is land that was acquired by the Kenya National Highway Authority (KeNHA) for the construction of Thika Road and also a development of a bus park. However, there has since been news by the county government to tender it for a public market based on the promises by the Jubilee administration, where some Chinese The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}