Cherarkey K Samson

All parliamentary appearances

Entries 2241 to 2250 of 7129.

• 8 Aug 2023 in Senate: Finally, on the special funds, I did not get anything apart from the funds of Local Authorities Pension Trust (LAPTrust) and Local Authorities Pension Fund (LAPFund). Nothing was mentioned on the bursary funds and emergency funds. Can you believe that counties expend emergency funds before even an emergency happens? The emergency funds are spent on chai and mandazi. Mr. Speaker, Sir--- view
• 8 Aug 2023 in Senate: Thank you, Mr. Temporary Speaker, Sir, for this opportunity. I rise to support the Public Finance Management (Amendment) Bill (National Assembly Bills No.16 of 2023). view
• 8 Aug 2023 in Senate: It has to go on record that for the different occasions when the ceiling of public debt was being raised on the Floor of this House, I voted against it. This is because it was no longer sustainable to put an absolute figure. view
• 8 Aug 2023 in Senate: As you are aware, the debt would now be anchored on a percentage as opposed to absolute figure then. As we speak, the Kshs10 trillion public debt that the country is facing is 64.1 per cent of the GDP. This issue of public debt continues to be a serious issue especially when the country is struggling with both domestic and foreign borrowing. The President, Dr. William Ruto, has on several occasions averred that he is willing to ensure we stop foreign borrowing so that we have a sustainable public debt in this country. view
• 8 Aug 2023 in Senate: Anchoring percentage into GDP at 55 per cent is very critical. In any extreme cases, increasing it by five per cent by the CS in charge of National Treasury and Economic Planning and by only explaining the breach of that five per cent increment upon 55 per cent of GDP and explaining it to Parliament. Article 201(c) of the Constitution on the Principals of Public Finance, says - view
• 8 Aug 2023 in Senate: “The following principles shall guide all aspects of public finance in the Republic- view
• 8 Aug 2023 in Senate: (c) the burdens and benefits of the use of resources and public borrowing shall be shared equitably between present and future generations.” view
• 8 Aug 2023 in Senate: So, even if it means borrowing, we must be considerate of the posterity and what is happening as had been envisioned in one of the principals of sustainable public borrowing by the Government. We must ensure that the future generations have an inheritance not only in public debt but also development. view
• 8 Aug 2023 in Senate: This can be seen in many of the developments that have been done, for example, the Thika Super Highway by the late President Kibaki’s administration. The people we borrowed may not have appreciated then when they were borrowing to ensure that that road was expanded. We now value the road many years down the line, when Nairobi City County has expanded, and we have a huge population and use of that use it. view
• 8 Aug 2023 in Senate: The anchoring of debt in percentage is very critical because it is the international best practise. So, this Amendment is straightforward. This is a is straightforward amendment. We are ensuring best practices by anchoring our debt in percentage. This will allow the Government to operate in unprecedented times. For instance, if you wanted to raise public debt during COVID-19, you can imagine the challenges that could have come with it, for example, raising quorum for Senators to vote. There was also the issue of nonphysical contact and social distancing. This Bill will be crucial in unforeseen circumstances like COVID-19. view