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{
    "id": 947014,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/947014/?format=api",
    "text_counter": 238,
    "type": "speech",
    "speaker_name": "Garissa Township, JP",
    "speaker_title": "Hon. Aden Duale",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Naivasha to Kisumu to Uganda. Many other key energy projects which are key drivers of the economy are important for us to do what we are doing this afternoon. In conclusion, it is important to know that this amendment will also ease the impact of borrowing from the domestic market by shifting the focus of the medium-term and the long-term borrowing from domestic to external borrowing. When the Government borrows domestically, it competes with the private sector and citizens. The Government stands a better chance. It gets first priority. The other sectors of the economy, the private sector and ordinary citizens, become victims. They are squeezed by the Government. If we do what we are doing this afternoon, I am sure the Government will lift the domestic borrowing and shift to external borrowing. The private sector and the citizens we represent will get favourable lending rates at the domestic level. The resulting effect is that there will be more resources available for the private sector and the SMEs, thus setting the necessary conditions not to crowd the private sector. This will spur economic growth and employment for our youth. I would like to tell my colleagues that we are the House that represents the people. We are the House that has been given powers in Article 211 of the Constitution and Section 50(2) of the Public Finance Management (PFM) Act in making a determination on the debt borrowing of our country. I am sure it was not there before the new Constitution. I ask the Chair of the Budget and Appropriations Committee to drop his amendment, so that we can pass the Kshs9 trillion and the Report as tabled by the Committee. He is not here? I ask him to drop it, so that we can approve the Report of the Committee on Delegated Legislation as it is. I beg to support the Motion."
}