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{
    "id": 900434,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/900434/?format=api",
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    "content": "87B. (1) Where the procuring entity fails to make payment within the periods prescribed under section 87A, the procuring entity shall issue the tenderer a promissory note which shall be valid for a period not exceeding forty-eight months from the date of issue. (2) The promissory note referred to in section (1) shall— (a) be eligible for use as a financial instrument by any licensed bank; (b) accrue interest payable by the procuring entity. This section addresses the issue of the instrument that is supposed to be given to suppliers or contractors in case they do not get paid within the times that we have already addressed under 87A(1) and we are not creating new dates as some Members have alluded to. The date is there, only that it is not recognised. Poor people in this country are lending to the Government without any evidence. So we are not providing any new date. Already the Government owes contractors Kshs300 billion: county governments owe Kshs108 billion and national Government Kshs200 billion. These promissory notes will force the National Treasury to give contractors something with which they can go and defend their property in the banks so that they are not auctioned and the interest thereon is going to be borne by the contracting authority. I want to say this to my very able Chair of the Budget and Appropriations Committee: We are not here to serve the National Treasury. We are here to serve the people of this country who are committing suicide. And we are here to cause some pain. Why should someone contract or buy some goods or services if they do not have money in the first place? This section is going to enforce good behaviour on the side of counties, the national Government and the National Treasury, so that that we have good fiscal responsibility on the part of all the entities so that we are able to live within our means and not punish Kenyan suppliers and contractors in case we do not have good fiscal discipline. With that, Hon. Temporary Deputy Chairlady, I beg to move."
}