24 Jul 2024 in National Assembly:
Thank you, Hon. Speaker. I beg to lay the following Paper on the Table: Report of the Public Debt and Privatisation Committee on its consideration of the Consolidated Funds Services for the Supplementary Estimates I of Financial Year 2024/2025. Thank you, Hon. Speaker.
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24 Jul 2024 in National Assembly:
Hon. Speaker, I beg to give notice of the following Motion: THAT, this House adopts the Report of the Public Debt and Privatisation Committee on its consideration of the Consolidated Funds Services for the Supplementary Estimates I Financial Year 2024/2025, laid on the Table of the House on Wednesday, 24th July 2024. I thank you, Hon. Speaker.
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12 Jun 2024 in National Assembly:
Thank you, Hon. Temporary Speaker. I beg to move; THAT, this House adopts the Report of the Public Debt and Privatisation Committee on its consideration of the Consolidated Fund Services for the Supplementary Estimates II for FY 2023/2024 and the Budget Estimates for FY 2024/2025, laid on the Table of the House on Tuesday, 4th June 2024. Hon. Temporary Speaker, this marks the Fifth Report on the Consolidated Fund Services (CFS) expenditures presented and deliberated within this Chamber. I extend my gratitude to the diligent members of the Public Debt and Privatisation Committee for their unwavering commitment in examining the ...
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12 Jun 2024 in National Assembly:
Under the CFS expenditures in Supplementary Estimates II, expenditures will amount to Ksh1.99 trillion. It will primarily comprise debt servicing expenses worth Ksh1.8 trillion, representing 90 per cent of the overall CFS expenditures. Additionally, the CFS expenditures include pension expenditures amounting to Ksh187.6 billion, which will account for the remaining 10 per cent. For the Financial Year 2024/2025, total CFS expenditures are projected to amount to Ksh2.06 trillion. The CFS expenditures will be composed of debt servicing expenditures worth Ksh1.83 trillion and pension salary allowances and other miscellaneous expenditures worth Ksh203.6 billion. The Committee also observed that the cost of ...
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12 Jun 2024 in National Assembly:
In general, the CFS expenditures, therefore, constitute the largest expenditure component of the national Government spending. It underscores the necessity to strengthen the National Assembly's oversight capacity over these expenditures to ensure transparency and accountability. Furthermore, it also highlights the ongoing fiscal challenges confronting the nation, stressing the importance of designing and implementing strategies to lower these expenses. Therefore, maintaining fiscal discipline, adhering to the fiscal consolidated trajectory, and freeing up fiscal space for key development investment has never been more crucial. These steps should aim to stimulate sustainable economic growth rates exceeding 10 per cent. The Committee noted a ...
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12 Jun 2024 in National Assembly:
The Committee has observed absence of provisions within the Public Finance Management Act of 2012, specifically regulating CFS expenditures. Despite this significance, this gap poses a loophole in their management. The Committee will take necessary action to address this issue, ensuring the involvement and input of all stakeholders in the process. This process shall be backstopped by enhancement of the National Assembly Standing Orders so as to set adequate procedures to ensure that the National Assembly remains on a proactive stance, in the review of these rising expenditures. After our deliberations on the estimates of the CFS under both the ...
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12 Jun 2024 in National Assembly:
9. That, the National Treasury should submit to the National Assembly an appropriate draft legislation to regulate the expenditures under the Consolidated Fund Services, by the end of Quarter Three for the Financial Year 2024/2025. Hon. Temporary Speaker, I beg to move and request Hon. (Dr) Makali Mulu to second. I thank you.
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4 Jun 2024 in National Assembly:
Yes. Hon. Speaker, I beg to lay the following Paper on the….
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4 Jun 2024 in National Assembly:
I am well guided. Hon. Speaker, I beg to lay the following Paper on the Table: Report of the Public Debt and Privatisation Committee on its consideration of the Consolidated Fund Services for the Supplementary Estimates II for the Financial Year 2023/2024, and the Budget Estimates for Financial Year 2024/2025. Thank you, Hon. Speaker.
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4 Jun 2024 in National Assembly:
Hon. Speaker, I beg to give notice of the following Motion: THAT, this House adopts the Report of the Public Debt and Privatisation Committee on its consideration of the Consolidated Fund Services for the Supplementary Estimates II for Financial Year 2023/2024 and the Budget Estimates for Financial Year 2024/2025, laid on the Table of the House on Tuesday, 4th June 2024. I, thank you, Hon. Speaker.
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