Amos Kimunya

All parliamentary appearances

Entries 3821 to 3830 of 6175.

• 19 Apr 2012 in National Assembly: Mr. Speaker, Sir, this is a very straightforward matter. When the Government came to this House and asked for authority to spend monies within specific budget lines and received that authority from the House, some issues shifted. Some expenditure could not be committed because of projects not beginning. Other projects became more expensive. New realities came into being. An example is our military intervention in Somalia, which has helped to stabilize maritime operations within the region and bring down the cost of doing business for everyone. view
• 19 Apr 2012 in National Assembly: There are, indeed, other issues that the Minister for Finance has enumerated, including the adjustment of salaries and other benefits that have come into being between the last approval and now. It, therefore, becomes necessary for this House to give that extra authority for the realignment of the monies within the bigger envelope that was done. view
• 19 Apr 2012 in National Assembly: Mr. Speaker, Sir, I just want to highlight the fact that even as we go for extra monies in some of the accounts, it is not just a matter of asking for more. There have been major sacrifices in some of the Ministries with people saying, yes, we are cutting down our expenditure on foreign travel, furniture and other expenditures to give room for what is now viewed as key expenditure constraints. Specifically, I want to highlight the issue that is very current, of the acquisition of extra shares in Kenya Airways. As part of its fundraising strategy, the Kenya ... view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Speaker, Sir, I do not want to interrupt Mr. Shakeel, but in his contribution I did hear him say that he was told that a certain company called “Mastermind Tobacco” has not paid taxes of either Kshs12 billion or Kshs6 billion. The company he is talking about is not present in this House. This is a company registered under the laws of Kenya that enjoys as much protection as any other person who cannot be mentioned in this House without substantiation. I am not sure who told Mr. Shakeel about the company. Unless it is an authoritative ... view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman Sir, indeed, what Mr. Mbadi is saying is within the Finance Bill. The prevailing rates before the introduction of the Finance Bill was 5 per cent but the Finance Bill attempted to raise it to 10 per cent. So, the figure in the Bill is 10 per cent. The correction is now to reduce the 10 per cent to the 5 per cent so that we get to the status quo. So, the amendment is proper in that respect. view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman, Sir, I believe the normal practice on the introduction of any new clause is that, once you call for the new clause to be read a Second Time, the Mover of the new clause has to move it, then it is debated so that, in effect, it goes through the Second Reading. When you go through the Second Reading, then it becomes a part of the Bill. Unless there is a subsequent amendment in the Committee, it will just be a proposal and putting of the question. So, I believe that all you need to do ... view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman, Sir, I stand to strongly oppose the introduction of this clause. I want to draw hon. Members’ attention to the implications of the introduction of this clause. The introduction of this Clause is purporting to say that the rate set by the Monetary Policy Committee, which is a committee that sets the rate for purposes of signaling whether the banks should lend more or less; it is not the contractual arrangement between a borrower and a bank. Right now, the rate is at 18 per cent. If this was to pass through, automatically, all interest rates ... view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Speaker, Sir, I believe that is an argument. If the hon. Dr. Nuh, who we respect for his age and enthusiasm was to read this amendment, he would see that it is basically saying that the maximum interest that a bank may charge - it is optional - is 22 per cent based on the CBR rate of 18 per cent today. It also says that the bank must pay deposit rates from tomorrow. I will be happy to get that but for now let me just proceed with my line. It also says that if we ... view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman, Sir, I stand to oppose that amendment on the basis that the amendment is trying to dilute the strength of the banking sector. It is basically saying that anyone who has Kshs250 million can open a financial house and call it a bank. We have moved from there as a country. It also means that a bank with Kshs250 million is capped in terms of the amount of money they can lend. The reason we moved and this House approved that we should move progressively to banks increasing their capital to Kshs1 billion was to protect ... view
• 19 Apr 2012 in National Assembly: Mr. Temporary Deputy Chairman, could you, please, protect me? view