Abdul Rahim Dawood

All parliamentary appearances

Entries 651 to 660 of 775.

• 24 Apr 2014 in National Assembly: Hon. Temporary Deputy Speaker, the other thing I would like to say is in Clause 3© of Bill where it says: view
• 24 Apr 2014 in National Assembly: “Funds should be disbursed directly to suppliers where the loan is raised for the purposes of financing goods and services.” I think that one will be prone to abuse which should not be the case. It should just be paid into the Consolidated Fund. The money should first get into the country and then get out. view
• 24 Apr 2014 in National Assembly: Section 3(d) says that: view
• 24 Apr 2014 in National Assembly: “Fees, commissions and other charges will be charged on the loans which we will be getting.” I think they need to be charged separately so that we deal with what we are borrowing separately and the fees and charges be separate. view
• 24 Apr 2014 in National Assembly: Hon. Temporary Deputy Speaker, Clause 4 proposes to remove purchases from the entity that borrowed. I think purchases should not be removed because we do not want to purchase ourselves; it removes purchases and gives a free hand in a way which leaves us unprotected. It goes on and says that: view
• 24 Apr 2014 in National Assembly: “An agreement to obtain a loan by a national Government entity maybe amended from time to time.” I think what is said is duplicated or negated by what is there. The other thing is that we need the sovereign bond very much, so that we do not crowd the domestic market. What happens is that when there is not enough money the Government needs to borrow; if it borrows locally the interest rates go up. It crowds out entrepreneurs who want to borrow money and the interest rates go up and nobody benefits. This is because when people borrow from ... view
• 24 Apr 2014 in National Assembly: We need, as a country, to come up with ways of reducing interest rates, even if it is to reintroducing the Donde Bill, which was killed by previous parliaments. We need to come up with something similar; I believe the Deputy President has established a committee; I hope we get that committee to bring a report to Parliament. I am asking even the Chairman of the Departmental Committee on Finance Planning and Trade to look at this, so that we can bring interest rates down. view
• 24 Apr 2014 in National Assembly: No; okay, I will accept the information from my Chairman. view
• 24 Apr 2014 in National Assembly: I will accept the information from my Chairman. I thought it was a point of order. view
• 24 Apr 2014 in National Assembly: Hon. Temporary Deputy Speaker, I hope we will address this issue before the end of this Parliament, so that our people do not suffer as if they borrow from shylocks; banks are like shylocks at the moment. If we get it below double digit rate, I will be all the more happy and this will make our country go forward. With those few remarks, I would like to support this Bill, but with amendments. view