Adan Keynan

All parliamentary appearances

Entries 1041 to 1050 of 2568.

• 16 Jun 2015 in National Assembly: Shockingly, again Essar Energy engaged in an issue I can only describe as cheque kiting. They issued a cheque on 30th July 2009 in favour of the Kenya Petroleum Refineries Limited (KPRL). That cheque was in circulation for two good years until 30th July 2011. A cheque issued in exchange for the shareholding of this facility was in circulation within Government institutions between KPRL, the Treasury, Ministry of Energy and Essar Group for two good years until the cheque became stale. Therefore, when it was presented to the bank, the only words the bank used were Real Time Gross Settlement ... view
• 16 Jun 2015 in National Assembly: That is the description of the entire transaction until that goodwill--- Whether you call it cheque kiting or fraud, that is what exactly happened and the Government of Kenya did not get a penny. We lost our facility, our time was wasted and today if you visit that oil refinery, it is a dumping ground. For colleagues who come from the Coast, they will tell you that that facility today is a dumping ground. It is a shame not only to the people of the Coast but to the entire region. This is a facility that would have been the ... view
• 16 Jun 2015 in National Assembly: Another critical observation we have made in this transaction is that the Government of Kenya willingly decided to undertake a goodwill consideration on the understanding that Essar Energy would undertake modernisation. How the Government of Kenya just accepted an undertaking by a briefcase company and gave away a critical entity called the Kenya Refineries for no penny is incomprehensible. That is what exactly happened. Eventually, we lost the organisation, our time was wasted and we did not get a penny. view
• 16 Jun 2015 in National Assembly: Further, the Government of Kenya did not commit or ask for any financial audit of the company by the Auditor-General because the shareholding of the Government and Essar Energy was 50/50. It is because of this that Part I of the Public Audit Act of 2013 and Part IV of the State Corporations Act of the Laws of Kenya ought to be amended in order to cure this challenge. The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from the Hansard Editor. view
• 16 Jun 2015 in National Assembly: The issue of pollution is serious. Sometimes there are speculations whether the intention of those new shareholders was not to use that facility as a dumping ground or whether it was their determination to invest and modernise that facility. There are critical issues that we failed to understand. This thing was not done under the moon. The transaction was supervised by competent Government institutions. How come the Ministry of Energy and Petroleum, the National Treasury and the Investment Department did not foresee and cure this challenge? I am told that recently the Cabinet was presented with this demand note for ... view
• 16 Jun 2015 in National Assembly: I want to go on record on this that any attempt to pay that exit fee will be fraudulent and robbery on the part of the people of Kenya. Therefore, those who are interested in looking after the public coffers should be careful because history is going to haunt them. They should make sure that, that exit fee of US$5 million is not paid at all. The entire process was fraudulent and not transparent. Therefore, that exit clause was the only thing that Essar Energy expected from the entire transaction. This particular issue has come at a time when the ... view
• 16 Jun 2015 in National Assembly: Hon. Speaker, shockingly, the Cabinet is a key creature of the Constitution. Members of the Cabinet make critical decisions not only on behalf of the Executive, but on behalf of the people of Kenya. The Cabinet Memorandum was completely ignored. Maybe this is why the entire transaction was not carried out in a transparent manner to the extent that the taxpayers’ have lost everything. Therefore, we are asking the EACC to investigate and find out why the Cabinet Memorandum was not adhered to. view
• 16 Jun 2015 in National Assembly: We are also asking the EACC to investigate the officers who participated in the negotiation, the drafting and the signing of the share agreement. That includes the then senior officials of the Ministry of Energy and Petroleum, the Ministry of Finance and the officials of KPRL. Thirdly, we are also asking the EACC to investigate the officers who included the US$5 million exit clause in the agreement. The inclusion of this particular clause was only meant for speculation and to ensure that the shareholders of Essar Energy, once they were prepared to exit, they got a free cheque of US$5 ... view
• 16 Jun 2015 in National Assembly: US$13 million? Who pocketed it? This is the bit that we expect the EACC to do a financial tracking and ensure that we know and identify the culprits behind this fraudulent transaction. We are also asking the Government to establish an import terminal and strategic petroleum reserve in the country to address the challenges in storage and enhance security of petroleum supply through the setting up of strategic petroleum reserves. This is a facility that we do not have. That is why at times we are at the mercy of what happens globally. The roles have changed. In countries like ... view
• 16 Jun 2015 in National Assembly: We are also asking the EACC or Essar Energy Overseas Limited to undertake an environmental clean-up and restore environment at KPRL to its original state in accordance to Section 108 of the Environmental Management and Co-ordination Act of 1999. We are also asking the National Environment Management Authority (NEMA) to assess the environmental impact in accordance with Section 58 of the Environmental Management and Co-ordination Act of 1999 and ensure that clean-up of the environment is undertaken by Essar Energy. We are also asking NEMA to carry out an environmental audit to ensure that everything that has happened and all ... view