29 Oct 2014 in National Assembly:
Thank you, hon. Speaker. I rise to oppose the Motion. The Mover did not take 30 minutes, having said that he would have taken 60 minutes. Looking at this Report, especially when it comes to the East African Community Monetary Union, I strongly feel that we are not yet ready. I have gone through this document, and I am going to argue out my points. Much as I would have wanted to support the Motion, having gone through the Report and done a cost-benefit analysis, I realise that we will be putting this country at risk. I listened keenly as ...
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29 Oct 2014 in National Assembly:
mitigating strategies being put in place. In order for mitigating strategies to be put in place successfully, you need a budget. I am anticipating budget deficit. Going further, the Report says that among the benefits that the citizens are likely to enjoy is enhanced trade and investment. Looking at the process of integration, particularly the Common Market Protocol and the Customs Union Protocol, you cannot achieve what is being said in this Report. It also mentions the reduction in foreign exchange risk, which is positively correlated to this aspect. We must go further and ask ourselves; what is the level ...
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29 Oct 2014 in National Assembly:
Hon. Speaker, the hon. Member will have his chance. I am just expressing my views. I am not a Member of the Committee. I went through the Report, and this is what I saw. It has been mentioned that Article 231 of the Constitution---
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29 Oct 2014 in National Assembly:
I do not want the information. Let me finish what I am saying.
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29 Oct 2014 in National Assembly:
Thank you, hon. Speaker. 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.
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29 Oct 2014 in National Assembly:
Our Constitution says clearly that we must have complete public participation. I looked at some of the stakeholders, who included--- I was shocked that even the Central Bank of Kenya was not involved in this matter.
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29 Oct 2014 in National Assembly:
Hon. Speaker, I have not seen it in the Report amongst the 12 listed stakeholder institutions that were consulted. I am looking at the Law Society of Kenya, the Ministry of Foreign Affairs and International Trade, the Office of the Attorney-General and the Institute of Certified Public Accountants of Kenya (ICIPAK). These are some of the critical institutions that must be involved when dealing with such an issue, so that we can listen to what their take is. This is an issue which should involve a wider consultative approach. The Committee has tried, but I strongly feel that those key ...
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29 Oct 2014 in National Assembly:
Thank you, hon. Speaker. On the issue of markets, the Chairperson talked of 120 million people accessing the market. That is a wonderful idea, but does it mean that we must, as a matter of necessity, achieve the common currency union before we can access that market? The answer is “no”. The first two pillars that we have already established; the Customs Union and the Common Market, should enable us to access the 120 million people market that we are talking about. That is a positive aspect that is notable so far, but its realisation is not necessarily dependent on ...
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29 Oct 2014 in National Assembly:
When the Mover was moving, she said it is only Kenya which is left behind as other partner States have already done the ratification. The answer is very good and the reason is because we have a comparative advantage over them as far as our currency is concerned. Because their currencies are weak, they have moved very quickly because they want to benefit from a common currency. I strongly feel we should look at this thing critically, and look at the proposal that KIPPRA gave. This is a public policy that is in line with all our economic policies. We ...
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29 Oct 2014 in National Assembly:
They ate into my time. I was told I would be added one minute, but I can see that the red signal is on! I do not know what I should do.
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