21 Dec 2021 in Senate:
Mr. Speaker, Sir, regarding the interest rates and access to credit, the Central Bank of Kenya (CBK) rate has remained at 7.0 per cent since April 2020. Exports as a share of Gross Domestic Product (GDP) has steadily declined from around 12 per cent in 2011 to 6 per cent in the Financial Year 2020/2021. The current account balance has remained steady at around 5 per cent since 2018, partly, due to declining imports as a share of the GDP. It is notable that exports of agricultural products and diaspora remittances continue to be the major source of foreign reserves. ...
view
21 Dec 2021 in Senate:
On a point of order, Mr. Speaker, Sir.
view
21 Dec 2021 in Senate:
Mr. Speaker, Sir, yes, I do not deny that the President is a good man, but what I just want to inform you Sen. Murkomen is that, we did not recommend Kshs370 billion but Ksh495 billion. It is the National Treasury and the Commission on Revenue Authority (CRA) and the Government that recommended that. However, as a Committee, we went by the law and declared 35 per cent of the audited accounts of FY 2017/2018.
view
21 Dec 2021 in Senate:
Thank you, Madam Deputy Speaker. It has been a long day. I beg to reply and in doing so, I recognize the contributions that have been made by over 12 Senators which is commendable. I will begin with Senator number six, Sen. Ole kina, who is present. I thank him for the insights that he has given the Committee specifically on where the BPS is increasing the domestic borrowing. We have noted it and it will not go into vain. Having said that, I request him to reconsider opposing the BPS, so that we can take money to the counties. ...
view
21 Dec 2021 in Senate:
Sen. Cheruiyot talked about trade. For us to increase our taxation base, we also need to increase trade in terms of the balance of payment. He mentioned about the Kenya-Tanzania border. I think that is something that needs to be taken seriously.
view
21 Dec 2021 in Senate:
Sen. M. Kajwang’ talked about accountability. More specifically, he talked about the issue of pending bills and own source revenue. He said that when we come back, we should focus on counties that refuse to take seriously issues of pending bills and invoke Article 225 of the Constitution by recommending to the National Treasury to stop disbursements to those counties, especially now that we are on a transition and we have governors who will leave.
view
21 Dec 2021 in Senate:
Sen. Murkomen was excited to talk about the issues of the BBI. There is only one issue that needs to be clarified. The BBI recommended that instead of using the last audited accounts, because the National Assembly is usually late in adopting the reports of the Auditor-General, we should use the current presented audited accounts to Parliament. If that was the case, we would have used Kshs1.6 trillion that was recorded the previous financial year.
view
21 Dec 2021 in Senate:
I also thank Sen. Wambua. He brought up the issue of the former councilors. It is something that we will recommend that the National Treasury takes it seriously. Since we passed a Motion, I think it is only fair that they respect that.
view
21 Dec 2021 in Senate:
Sen. (Dr.) Musuruve and Sen. Seneta also came up strongly. The Senator for Marsabit County, Sen. (Eng.) Hargura, also came up strongly. He talked about timely disbursements and all Senators supported the Kshs495 billion. Those who are listening should know that the Senate is ready to play its role in ensuring that counties get their rightful share of the Kshs495 billion come next year.
view
21 Dec 2021 in Senate:
Sen. Faki, who has just spoken, talked about expanding businesses and I cannot agree with him more. He said that we should allow international flights to Mombasa. In
view