Aden Bare Duale

All parliamentary appearances

Entries 14481 to 14490 of 17810.

• 24 Mar 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 “Government security” in 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 any loan raised ... view
• 24 Mar 2014 in National Assembly: Clause 6 of the Bill proposes to amend Section 55 of the principal PFM Act. This is to make it 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 ... view
• 24 Mar 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 Mar 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 Mar 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 Mar 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
• 20 Mar 2014 in National Assembly: Hon. Speaker, I apologise for coming late. The Marriage Bill was giving me problems; I had to carry my amendments. I beg to lay the following Papers on the Table of the House today, Thursday, 20th March, 2014:- The Report of the Auditor-General on the Financial Statements of the Witness Protection Agency for the year ended 30th June 2013, and the certificate of the Auditor-General therein. The Report of the Auditor-General on the Financial Statements of the National Authority for the Campaign Against Alcohol and Drug Abuse for the year ended 30th June 2013 and the certificate of the Auditor-General ... view
• 20 Mar 2014 in National Assembly: Hon. Temporary Deputy Speaker, I have a Statement on the status of the appointment of the chairperson and commissioners of the Teachers Service Commission (TSC) that was sought by hon. Stephen Mutinda Mule, Member for Matungulu, pursuant to Standing Order No.44(2)(c). I wish to give the highlights of what has transpired so far, in the appointment process of the TSC chairperson and commissioners. A selection panel, chaired by Dr. Kamunge was constituted by the President in consultation with the Prime Minister as was the requirement then. In line with statutory provisions, the panel initially advertised, selected and forwarded three names ... view
• 20 Mar 2014 in National Assembly: 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
• 20 Mar 2014 in National Assembly: The Committee recommended that they have no faith in the panel that is led by Dr. Kamunge and recommended that a fresh selection panel be reconstituted to undertake and finalize the process. As it stands, the appointment process is still pending whereas the Commission is operating with only three members out of a possible nine members. The small number of commissioners is currently undertaking the role and functions that were previously performed by 24 commissioners before the TSC Act came into place in 2011. Clearly, the operations of the TSC have been adversely affected as it cannot effectively carry out ... view