Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 871851,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/871851/?format=api",
    "text_counter": 130,
    "type": "speech",
    "speaker_name": "Kikuyu, JP",
    "speaker_title": "Hon. Kimani Ichung'wah",
    "speaker": {
        "id": 1835,
        "legal_name": "Anthony Kimani Ichung'Wah",
        "slug": "anthony-kimani-ichungwah"
    },
    "content": "There are two salient issues that are in this Bill: One, it allows Parliament to be involved when county governments are creating entities. They have not been involving Parliament in the establishment of many of these entities, many of which are fashioned as government parastatals. They have done this without any approval or ratification by either the Senate that oversees county governments or the National Assembly. Therefore, the amendment that will now make it compulsory for county governments to involve Parliament is a very good thing for our country. Since we are the ones who appropriate money even for the county governments, we shall be able to provide meaningful oversight. More so, Senators, who largely may not be very busy, will at least find something to keep them busier in offering meaningful oversight of the county governments. The other salient issue in this Bill is the question of when and who is allowed to borrow short-term loans. The fact that now the Central Bank of Kenya (CBK) will be the only institution that can offer short-term overdraft borrowing… This is something that has been largely abused in the past when government parastatals and even ministries at times, not to mention the county governments, went out to take overdrafts from the banking industry. The short-term overdrafts that county governments and government ministries and departments take from the banking industry in a large way distort the interest rate market and, in a way, stifle credit that would otherwise be available to private sector business players. I do not want to say much, because a lot had been said by the Leader of the Majority Party when he moved this Bill. I think those are two very critical issues that I did note and will help in financial management in our country to ensure that the overdrafts that go out to government entities are with the approval of the CBK, and to ensure that the National Assembly and the Senate are involved in the creation of all entities by the county governments to ascertain that the entities are not being created to duplicate functions that are being carried out by other entities at the national government level. I have seen in very many county governments the creation of entities and funds that are basically duplicating what is being done by parastatals at the national level, thereby creating unnecessary conflict. It is good to point out such issues. I also take this opportunity to recognise the Mau Mau War Veterans; people who played a very critical role. We would not even be here amending the PFM law today without the freedom that we got, courtesy of these old men and women who fought for our Independence. We honour and value them and we thank God for the life that He has given those who are here today and others across the country. Thank you, Hon. Speaker."
}