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{
    "id": 992964,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/992964/?format=api",
    "text_counter": 240,
    "type": "speech",
    "speaker_name": "Sen. Halake",
    "speaker_title": "",
    "speaker": {
        "id": 13184,
        "legal_name": "Abshiro Soka Halake",
        "slug": "abshiro-soka-halake"
    },
    "content": "COVID-19 emergency fund. As you know, many questions have come up on that and other funds established at the national and county level. The National and county treasuries should submit monthly income and expenditure statements. To hasten the disbursement of funds to counties, counties should comply with the rules and regulations set by oversight bodies to facilitate funds disbursement. Many counties are telling us that they could not do A, B and C because they have not gotten their revenue disbursement. Again, this is one of our recommendations. To support the micro and small sized enterprises to continue with their businesses during the pandemic, we have recommended that the Government hastens the planned liquidity support for Small and Medium Enterprises (SMEs) through credit to banks and other financial institutions to further promote this sector. Madam Temporary Speaker, again, as the Chairperson has said, CBK has done a lot with regard to setting up platforms and mitigation measures for borrowers. They have also done a bit with regard to liquidity management to other banks for onward lending to SMEs. We encourage this and commend CBK for the measures they have taken and reduce disruption to the supply chain in counties to facilitate retail markets. The recommendations are far-reaching and very extensive. Let me jump to containing the public debt. Public debt is becoming a real area of concern, which this House should take note of given that the Government is spending a lot without being able to collect as much. Therefore, the imbalance and, perhaps, the collapse on one side of the revenue and expenditure that is so much heightened on another side, becomes an issue that this House needs to look at. To contain the public debt at a sustainable level, the Committee recommends that the National Treasury takes decisive action to curtail spending through austerity measures in order to reduce the size of the fiscal deficit. Questions are being asked about how much tea and forms for COVID-19 cost, and so we recommend that. Also, to reduce the extent posed by commercial borrowing by gradually shifting to concessional money from the multilateral and other bilateral organisations that are not charging market rates and commercial banks; cancellation and reallocation and so on. Madam Temporary Speaker, we have about ten recommendations, but I will not go through all of them. I would like Senators to interact with these reports and support the implementation thereof. On debt issues again, we recommend negotiations to be considered on debt swaps, as was mentioned by the Chairperson. This is mainly important to support women, youth, Persons with Disabilities (PWDs) and other vulnerable groups. Importantly, on support to women, youth and persons with disability and other vulnerable groups, the Committee recommends the upscaling of training to enable these groups start and operate businesses efficiently. Additionally, these groups be prioritised for award of business stimulus funding and an opportunity to supply goods and services to the national and county governments."
}