Chrisantus Wamalwa Wakhungu

All parliamentary appearances

Entries 581 to 590 of 3399.

• 19 Sep 2019 in National Assembly: I support. Thank you. The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor. view
• 19 Sep 2019 in National Assembly: Thank you, Hon. Temporary Deputy Chairlady. I rise to support. If you check the HANSARD during the Second Reading, I raised this matter, particularly when it comes to the religious groups. I asked the question: What criteria are we going to use? We have so many religious groupings in this country. We have the National Council of Churches of Kenya (NCCK), Kenya Conference of Catholic Bishops (KCCB), the Presbyterian and the Muslims. There will be room for anarchy when you give them one slot. I am happy that the proposal came in based on what we had recommended when it ... view
• 19 Sep 2019 in National Assembly: I thank you and support. view
• 19 Sep 2019 in National Assembly: Thank you, Hon. Temporary Deputy Speaker for giving me this opportunity. We know very well that the Finance Bill is a very important Bill because it gives revenue-raising measures. We have had a budget and the Big Four Agenda for Jubilee Party. For them to be funded, we must develop measures of raising revenue. As we do that, the key objective is to drive the economy into production as opposed to consumption approach. view
• 19 Sep 2019 in National Assembly: Hon. Temporary Deputy Speaker, I would like to speak on the amendment of the Banking Act. I was one of the people who worked closely with Hon. Jude Njomo, the great servant of the people of Kiambu. When you look at the theory of demand and supply, when you look at the conceptual framework, this is a theory that has stood the test of time and has never been challenged. view
• 19 Sep 2019 in National Assembly: In a market place, when the price of a commodity goes down, the quantity that is demanded should be higher. It is very ironical because when we cap the interest rates, that means the margin goes down and the goods to be demanded should be higher. In this case in the banking sector, it is on the contrary. When you try to probe further, these banks have conspired to deny an opportunity to SMEs simply because of the assumption that they are risky. This is a conspiracy. These banks have been making abnormal profits. Normally, when all factors are constant ... view
• 19 Sep 2019 in National Assembly: Absolutely. So, this is blackmail and we must look at it keenly. We do not want Wanjiku to suffer. Savings and Credit Cooperative Societies (SACCOs) always have interest rates of 12 per cent on a reducing balance, which comes to about 7 per cent and they make dividends. When you negotiate with some Micro Finance Institutions (MFIs), they give you credit on very low rates and they still make money. So, we cannot afford to allow banks to make abnormal profits again. view
• 19 Sep 2019 in National Assembly: We are calling upon His Excellency the President not to abuse Article 115 of the Constitution when it comes to referrals. We want him to listen to us and the Wanjiku. Based on Hon. Speaker’s ruling today on Hon. Jude Njomo’s Amendment Bill that we have just passed in the Second Reading, it is very unfair to say that if we pass this one, Hon. Jude Njomo’s Bill dies. We know there are many people in the country and to drive this economy we must rely on SMEs. view
• 19 Sep 2019 in National Assembly: However, the blackmail that is going on to force Parliament to remove the capping of interest rates is unacceptable. When you do a trend analysis, earlier on when capping had been removed, banks were making abnormal profits. Even now as they cry, they are still making profits. Currently, the Cooperative Bank and the Equity Bank have made overwhelming profits. So, they want to continue robbing the common mwananchi in the pretence that they want to The electronic version of the Official Hansard Report is for information purposes only. Acertified version of this Report can be obtained from the Hansard Editor. view
• 19 Sep 2019 in National Assembly: increase accessibility to the SMEs, and it is very wrong. Unless you want to show me any academic paper that somebody has challenged the theory of demand and supply, graphically when the price goes down, more should be demanded. view