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{
    "id": 868804,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/868804/?format=api",
    "text_counter": 235,
    "type": "speech",
    "speaker_name": "Kitui Central, WDM-K",
    "speaker_title": "Hon. Makali Mulu",
    "speaker": {
        "id": 1955,
        "legal_name": "Benson Makali Mulu",
        "slug": "benson-makali-mulu"
    },
    "content": "The most important parts of this Bill are Clauses 31 and 35. These talk about a single treasury account. It has been mentioned by the Chair of the Committee, Hon. Leader of the Majority Party, and if there is anything which is going to help this country in terms of prudent use of public finances, it is the introduction of single treasury accounts both at the national and county levels. Why am I saying so? You realise that anytime we talk about domestic borrowing, the Government would be borrowing from our local banks. We cannot rule out situations where the Government has borrowed its own money from some of the commercial banks, which has been deposited there by parastatals. The Government pays interest on money from the Central Bank, which it could just take and use minus paying interest. So, the introduction of the single treasury account and the enforcement of the same will ensure that the Government only borrows The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor."
}