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{
    "id": 858875,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/858875/?format=api",
    "text_counter": 117,
    "type": "speech",
    "speaker_name": "Nominated, ANC",
    "speaker_title": "Hon. Godfrey Osotsi",
    "speaker": {
        "id": 13172,
        "legal_name": "Godfrey Osotsi",
        "slug": "godfrey-osotsi"
    },
    "content": " It is important to note that the National Treasury is an important institution on matters to do with finance and retirement schemes. That is anchored in the Public Finance Management Act. If the National Treasury has an objection to this Bill, who are we as Parliament to pass it? We must question it. Even the stakeholders appeared before the Departmental Committee on Finance and National Planning and raised objection to this Bill. Members of County Assemblies (MCAs) who have a major stake on matters relating to pension for county government workers had an objection. This Bill proposes to dissolve the LAPFUND. We know that there are procedures to dissolve public institutions or parastatals as the LAPFUND. We do not have any advisory from the State Corporation Advisory Committee on the issue of dissolution of the LAPFUND. However, this Bill is proposing in Clause 42 to dissolve the LAPFUND. It is biased and in favour of the LAPTRUST. This House must interrogate LAPTRUST. This Bill tries to sanitise activities of various private companies that are run under LAPTRUST. I will mention companies like the CPF Financial Services, LAPTRUST Administration Services, Laser Property Management Company, Laser Insurance Brokers, LAPTRUST Infrastructure and Technology and LAPTRUST Umbrella Scheme, among others. This is unacceptable. Why do we want to run a private company using public resources? This House has passed a Bill that is before the Senate on similar issues."
}