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{
    "id": 924610,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/924610/?format=api",
    "text_counter": 487,
    "type": "speech",
    "speaker_name": "Sen. M. Kajwang’",
    "speaker_title": "",
    "speaker": {
        "id": 13162,
        "legal_name": "Moses Otieno Kajwang'",
        "slug": "moses-otieno-kajwang"
    },
    "content": "Mr. Deputy Speaker, Sir, that is the extent of the problems we have in counties. When we say that Kshs298 billion has been lost, we are not saying that that money has gone into someone’s pocket. We are just saying that there are queries surrounding it, where Parliament and the Auditor-General have not been satisfied. The loss of Kshs298 billion – assuming it was a loss because there are queries around it – from the economy may have cost the country approximately 5.4 per cent in terms of economic growth. Simulations indicate that if Kshs298 billion is injected into the economy in the current financial year and utilised efficiently in the productive sectors of the economy with no single wastage, it could help the economy achieve a double digit growth of 10.9 per cent. That is the analysis of the impact of fiduciary risks, as shared with us by the Parliamentary Budget Office (PBO). It is not an idle discussion. Mr. Deputy Speaker, Sir, we are talking of the potential of creating jobs for thousands of Kenyan youth, and lifting this economy. We are talking of the size of the economy of Southern Sudan having queries over the last five years. In conclusion, Mr. Deputy Speaker, Sir, after six years of devolution, it is important that stakeholders undertake an audit of legislation and financing arrangements for counties. This is so as to address the gaps that lead to risks that have been identified. The Senate should either strengthen the PBO, or establish a Parliamentary Audit Office that will advise it on the fiduciary risks from the counties and recommend appropriate action on a day-to-day basis. This being the first report, we have no illusions that it is perfect. In fact, I would ask Members to look at it. We will also share it with stakeholders. We have been invited by the Institute of Economic Affairs (IEA) for a one-and-a-half day workshop to discuss a report similar to what we have put before the House. The Auditor-General is also working on a similar report. The convergence of all these different stakeholders will help us to refine and define our role when it comes to oversight, and make it distinct from the role of the county assembly. The electronic version of the Senate Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor, Senate."
}