Aden Bare Duale

All parliamentary appearances

Entries 14271 to 14280 of 17810.

• 24 Apr 2014 in National Assembly: Clause 1 of the Bill sets out the short title of the proposed Act, while clause 2 proposes to amend Section 2 of the principal Act. Basically, it clarifies the definition of a Government security in a very alphabetical order. This Bill has been before the Budget and Appropriations Committee, and so I am sure hon. Members of that Committee will follow what the amendment is all about. Clause 3 of the Bill proposes to amend Section 50(7) of the principal Act; that is the gist of the whole amendment. That is to provide for receipt of the proceeds of ... view
• 24 Apr 2014 in National Assembly: Clause 6 of the Bill proposes to amend Section 55 of the principal PFM Act. This is to make crystal clear the role of the registrar of securities in relation to external Government security. This amendment is basically a legal framework because the National Treasury wants to do an external sovereign bond of Kshs130 billion. Currently, the Government’s local domestic borrowing is to the tune of Kshs22 billion and it is coming to an end at the end of May. The Kshs130 billion external borrowing, I want to make it very clear, will enable the Government not to borrow from ... view
• 24 Apr 2014 in National Assembly: This House before the end of this year must find a solution to the problem of interest rates. Kenyan companies are competing with foreign companies, the Chinese, the Turkish and Western companies, which come to do business here on borrowed resources at a rate of between 3 per cent and 4 per cent, while Kenyan companies borrow at an interest rate of 19 per cent. So how do we compete? These companies will ultimately get out of the market. So, we are creating this legal framework so that the National Treasury can use the external sovereign bond. We get the ... view
• 24 Apr 2014 in National Assembly: So, this is the best route for capping interest rates. I want to challenge the Chairperson of the Departmental Committee on Finance, Planning and Trade--- We are aware of the Donde Bill. We are aware that the last Parliament had it in the Finance Bill. This country cannot, in my honest opinion even as a Member of Parliament, develop with high interest rates. Secondly, when we have companies that can get loans at an interest rate of 3 per cent--- The Exim Bank of China gives Chinese companies 3 per cent. Turkish companies are getting 4 per cent while Western ... view
• 24 Apr 2014 in National Assembly: borrowing at 19 per cent. We are changing this Act to give a legal framework and it is good for the country. It is also good for creating a stable macro economic stability. view
• 24 Apr 2014 in National Assembly: Because the Chairman of the Budget and Appropriations Committee is not around, I will ask his able Member, Hon. Ng’ongo to second this PFM (Amendment) Bill, that has been brought to the House today. view
• 22 Apr 2014 in National Assembly: On the outset, let me say that I do not give answers on the corridors, in bars or lounge. I give answers on the Floor of the House. I got the answer from the Cabinet Secretary for Transport and Infrastructure, but I want to confess that the economic aspect of the boda boda operation in the country is missing . I have discussed with my colleague, who is a serious member of an amorphous political coalition, but I will deliver it on Tuesday next week. view
• 22 Apr 2014 in National Assembly: I will deliver it on Tuesday. view
• 22 Apr 2014 in National Assembly: Hon. Speaker, on the outset, I want to confirm that the Division of Revenue Bill 2014 was submitted by the National Treasury to Parliament and more specifically to the National Assembly. It went through the First Reading. It went to the 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
• 22 Apr 2014 in National Assembly: Budget and Appropriations Committee of the National Assembly of which hon. Ngong’o is a Member led by the able Chairman, hon. Musyimi. But last week, we heard of a Division of Revenue Bill which was presented to the Senate. I got a copy of it and the only difference between that Bill and this Bill is only the signature of the person signing. I do not want to speak for the Senate. The County Revenue Bill, ideally, starts from the Senate and then it comes here. I am sure that when this House, in its wisdom, deals with this Division ... view