Gladys Jepkosgei-boss Shollei

All parliamentary appearances

Entries 31 to 40 of 308.

• 9 Oct 2019 in National Assembly: In this regard, the Committee held consultations with the Cabinet Secretary for the National Treasury and had a candid discussion and check to ensure that all the instruments, Acts of Parliament and the Constitution had been adhered to in the making of these regulations. view
• 9 Oct 2019 in National Assembly: Hon. Speaker, these regulations were published on 1st October 2019 and tabled before this House on the same date as is required by the Statutory Instruments Act. The principal object of the Public Finance Management (National Government) Regulations, 2019 is to provide clarity in terms of controls and timely oversight mechanism on the growth of public debt. The reason for the latter is to ensure the monitoring of public debt as a percentage of the Gross Domestic Product makes it difficult to enforce compliance and undermine accountability. For this reason, it was preferred that we provide a numerical limit to ... view
• 9 Oct 2019 in National Assembly: The regulations seek to allow the Government to access concessional funding sources (multilateral financial institutions and bilateral sources) thereby facilitating Government interventions in the public sector. It also releases money that would otherwise be borrowed by Government from commercial banks to individuals and Small and Micro Enterprises (SMEs). view
• 9 Oct 2019 in National Assembly: The rationale for the amendment is anchored on the fact that the set debt limit as currently expressed on net present value terms as a percentage of the GDP is unclear, difficult to verify compliance and thus undermines accountability. In general terms, public debt limits are necessary for safeguarding an economy from shocks and risks such as exchange risks, interest rate risk, international financial instabilities and safeguarding public debt at sustainable levels as envisaged in the Constitution, the PFM Act and in accordance with international best practice. view
• 9 Oct 2019 in National Assembly: The ceiling is proposed at Kshs9 trillion at the moment. As at end of June 2019, public debt stood at Kshs5.8 trillion and is expected to rise to Kshs6.3 trillion by the end of the current fiscal year based on the approved Budget Policy Statement (BPS) by this Parliament. The amendment will, therefore, enable implementation of the Budget for the Financial Year 2019/20 as approved by this House. view
• 9 Oct 2019 in National Assembly: Hon. Speaker, implementation of capital projects for the Financial Year 2019/2020 is highly dependent on the approval of these regulations before this House today. The Government is in dire need of Kshs635 billion to finance the development projects approved by the House in this year’s Budget. These regulations hold the key to the funding of these projects. view
• 9 Oct 2019 in National Assembly: The amendment will also enable the nation to re-profile existing high cost debts through debt re-financing of facilities guaranteed by multi-lateral financial institutions and bilateral sources to enable it pay off its expensive syndicated (commercial) loans. view
• 9 Oct 2019 in National Assembly: The amendment will also enable the country to minimise domestic borrowing and allow local SMEs and the private sector at large to access affordable credit and avoid crowding out the private sector by confining multi-lateral and bilateral creditors that have lower interest rates and 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
• 9 Oct 2019 in National Assembly: no longer repayment. The net effect is that Kenya will access loans at an interest rate of 1 per cent as opposed to the current expensive loans that have an interest rate of 9 to 11 per cent. view
• 9 Oct 2019 in National Assembly: Hon. Speaker, the Committee appreciated the fact that the Cabinet Secretary for the National Treasury, Amb. Ukur Yattani, was very candid and forthright with the Committee. The Committee found that all regulatory steps had been followed in the making of these regulations. There was proper public participation. They consulted with the Parliamentary Budget Office, the Budget and Appropriations Committee of Parliament and the Departmental Committee on Finance and National Planning. They also undertook the mandatory step that is required by the PFM Act that the regulation-making authority consults with the Intergovernmental Budget and Economic Council (IBEC). This is in order ... view