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{
    "id": 900475,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/900475/?format=api",
    "text_counter": 387,
    "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": "I just want to point out two things to Hon. Moses Kuria, because I clearly understand he is coming from Kiambu County where pending Bills are very huge and many of our business people are suffering. But we must be very careful as Hon. Nyikal and Hon. Makali Mulu have said. When we legislate, we will be putting it in statute that certain things must happen within a specified period of time. This is through the introduction of promissory notes as the Member for Samburu has said. It is true that, indeed, these pending bills are debts. They are what you can constitute as informal debt that has not been formalised. What we are doing with this amendment is formalising informal debt. The implication this will have on the fiscal discipline as the Member for Nyeri Town, Hon. Nyikal and Hon. T. J. Kajwang have said is that it will be distorting the fiscal framework we have set for ourselves. This will be by formalising the informal debt into what will constitute formal debt. It will have such huge implications on the level of our national debt. As we speak, those of us who attended the leadership forum in Mombasa listened to a presenter from the Kenya Association of Manufacturers (KMA) say that at the county level, we are speaking of an informal debt to the tune of Kshs108 billion. If we incorporate the informal debt from the national Government, we are talking about Kshs400 billion. That is equivalent to what we were unable to procure in China for the Standard Gauge Railway (SGR). Therefore, ask yourselves as we legislate what we will be doing to our fiscal framework in terms of our national 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."
}