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{
    "id": 909964,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/909964/?format=api",
    "text_counter": 731,
    "type": "speech",
    "speaker_name": "Pokot South, JP",
    "speaker_title": "Hon. David Pkosing",
    "speaker": {
        "id": 2662,
        "legal_name": "Losiakou David Pkosing",
        "slug": "losiakou-david-pkosing"
    },
    "content": "people misunderstand the infrastructure bond because it includes other things like water. For this one, I want to plead with the House to agree with the Committee the need to float a roads bond under the KRB of between Kshs200 and Kshs500 billion. This will really transform this country and in less than three or four years, we would have done the 10,000 kilometers of roads and ensure every part of this country gets a “black top” road. The question that comes is how the securities and bonds pay. As a Committee we have thought on behalf of the House and found an opportunity to fund these roads. We need to scrap a fund called “Annuity Fund” which was set up to pay for roads under Public Private Partnership (PPP). We have since seen that these are most expensive ventures. There is one road in Ngong which we took as an example. It measures 91 kilometers, and it was awarded Kshs22 billion. If you calculate how much this costs per kilometer, you will find that it comes to Kshs240 million. This is unsustainable. I have never seen a road in this country or in the world using Kshs240 million to do a kilometer of bitumen. I want the House to agree with us that we should scrap this annuity programme. In fact, we should even rule as a House and say, the annuity programme should stop with immediate effect. This is because it is a loss making institution. Therefore, we can take that money and float a bond of Kshs200 to Kshs500 billion and then we secure it using the annuity money because it is there. We are collecting about Kshs11 billion per year. This is good money for securities to make our roads. What are we comparing with this to say it is expensive? Low volume roads…"
}