Amos Kimunya

All parliamentary appearances

Entries 5741 to 5750 of 6175.

• 4 Jul 2007 in National Assembly: Mr. Speaker, Sir, we have not ignored the law. I believe, we have given some of the problems that we have in terms of following up on people who have retired. Some of them have not provided any information. Some of the information has not been complete. It is only when the full package of information is available that pensions are processed. So, there is a dual responsibility on the pensioners and the Pensions Department, to ensure that everything is done, so that payment can be facilitated. view
• 4 Jul 2007 in National Assembly: Mr. Speaker, Sir, I believe we are debating a Question that has not even been asked. The Ministry of Transport was to respond to the Question, but there was no Questioner. All I was clarifying was the delay in paying the pension. view
• 4 Jul 2007 in National Assembly: Mr. Speaker, Sir, I can confirm that we are not in any way disregarding the law as it was passed. I explained at an early opportunity that, in fact, the problem has not been with the people who are retiring now, because we are able to collect all that information before they retire. But for the people who retired earlier--- In almost all those Questions that are coming up, we are talking about issues dating back to the 1990s, before the passage of that law. But with regard to all the people who are retiring now, at least, we do ... view
• 4 Jul 2007 in National Assembly: Thank you, Mr. Temporary Deputy Speaker, Sir. I would like to take this opportunity to congratulate the Minister and, indeed, thank the House for co-operation and time with which this Bill has been debated and completed. This is because we all do recognize the fact that the need for infrastructure is the cornerstone on which the future development of this country will be anchored. I do hope that even as we move forward now with the Bill, and with the funding, we are going to see smooth roads and everyone participating in terms of doing it. Mr. Temporary Deputy Speaker, ... view
• 3 Jul 2007 in National Assembly: Mr. Speaker, Sir, I beg to reply. (a) Yes, I am aware that the Government is in the process of issuing a sovereign bond of US$150 million in the Financial Year 2007/2008 and not US$70 million as questioned, if that helps the situation. (b) The bond will be issued on terms similar to those issued in the international financial markets by countries with equivalent credit ratings. It is expected to be issued within the Financial Year 2007/2008. (c) The proceeds of these bonds will be used to finance development of infrastructure in the country as was captured within the Budget. view
• 3 Jul 2007 in National Assembly: Mr. Speaker, Sir, I believe the hon. Member was asking about US$70 million. I confirm that we are actually raising US$150 million. This information was contained within the Budget Strategy Paper which I distributed to hon. Members and called upon them to read it and see what we are proposing. I am not sure what the issue is. view
• 3 Jul 2007 in National Assembly: Mr. Speaker, Sir, much as I appreciate the passion by hon. Members, I suspect that they are getting passionate on a matter that they do not quite comprehend. view
• 3 Jul 2007 in National Assembly: Mr. Speaker, Sir, I did mention that the issue was contained within the Budget Strategy Paper which was the basis on which the Budget was constructed and which we requested hon. Members to look at. Within the financing of the deficit, part of the financing were proceeds from privatisation; Kshs34 billion was from local borrowing and the balance was from international borrowing. The US$150 million is part of that international borrowing. view
• 3 Jul 2007 in National Assembly: Mr. Speaker, Sir, I will try to be very slow. The reason why we are borrowing this money is for financing of the infrastructure. view
• 3 Jul 2007 in National Assembly: Mr. Speaker, Sir, as hon. Members are aware, we recently received a very positive sovereign credit rating, in fact, a B plus from Standard and Poor's (SAP) which basically signalled to us that the country can tap the international capital markets, for money. More importantly for us, it is not just the Government but our private sector can also start tapping capital from the international market. Apart from financing our own infrastructural needs, we are also issuing this bond as part of our benchmarking exercise to facilitate our private sector to issue similar bonds in the international market. When you ... view