John Mbadi Ng'ong'o

All parliamentary appearances

Entries 4351 to 4360 of 7480.

• 24 Mar 2014 in National Assembly: Hon. Speaker, I will not speak a lot on the clauses that do not have issues. This is because, as hon. A.B. Duale has said, and I do not want to repeat it, if you look at Clause 5, you will find that it provides the detailed procedure, or creates a new Section 53A in our PFM Act to provide clearly on how money from sovereign bonds will be received. It also gives details of how to get into the contract with the external financiers. view
• 24 Mar 2014 in National Assembly: I just want to point out that when we reach the Committee of the whole House Stage, there will be issues that we will need to address. I am now speaking as the Leader of the Minority Party, because I was handed over that mandate officially before the Chief Whip left. view
• 24 Mar 2014 in National Assembly: Hon. Speaker, I am particularly disturbed by one of the proposed amendments. That is under Clause 3(c) which talks about the money sourced--- It reads:- “The Cabinet Secretary shall ensure that proceeds of any loan raised under this Act are - (a) paid into the consolidated Fund”. 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. view
• 24 Mar 2014 in National Assembly: I do not have a problem with that. However, I have a problem with part (c) which says that it can be disbursed directly to the suppliers where the loan is raised for the purpose of financing goods and services provided by a supplier outside Kenya. view
• 24 Mar 2014 in National Assembly: To me, this violates the provisions of Article 206 of the Constitution, which are very clear. It says that any money that is received in this country must either be taken to the Consolidated Fund, or, in accordance with an Act of Parliament, taken to another public fund. There is no provision in our Constitution that allows disbursement of money directly to a supplier outside the country, even if that money is raised externally. The danger of this is that you may end up even financing some Anglo Leasing type of projects, if you are not careful. I think that ... view
• 24 Mar 2014 in National Assembly: The current PFM Act talks about national Government entities receiving money but does not talk about the national Government. There is a distinction between national Government entities and the national Government. National Government entities are like parastatals. So, what we did in error, as a Parliament, was to clearly provide for national Government entities to receive money or loans from outside, and fail to provide for the national Government to do the same. That was a very serious oversight. So, Clause 3(c) will address that. view
• 24 Mar 2014 in National Assembly: I am also concerned about Clause 4(b), which says that the provisions of this section shall not apply to external loans or external Government securities. That is causing a little concern to me. I looked at what is provided in sub-section (6) and I realized that probably what we are trying to avoid is giving public information about what we have borrowed from outside the country. Why should we prevent the people of Kenya from knowing if we have issued sovereign bonds and they have been sold out or bought by some external financiers outside there to construct, say a ... view
• 24 Mar 2014 in National Assembly: Clause 5 which is creating a new Section 53(A), sub-clause 2 says that the Cabinet Secretary may raise an external loan or issue external Government securities authorized by this Act, on behalf of the national Government for money borrowed by the national Government in such manner as the Cabinet Secretary may determine. view
• 24 Mar 2014 in National Assembly: I have no issue with that but allowing the Cabinet Secretary to do it in whichever manner he or she would like is being a bit careless with our legislative role. We need to define specifically in which format or manner the authorization should be done. view
• 24 Mar 2014 in National Assembly: If you go to Clause 6(c), you will find that the appointment--- We have provided that the Cabinet Secretary can enter into contract and in his or her absence can delegate to his appointee or the borrowing agent. However, it is not specific. This appointment should be done in writing because in the delegation part it talks about the Cabinet Secretary doing it in writing. When it comes to appointing an agent who may not even be a Kenyan, and in most cases these will not be Kenyans but will be legal representatives, then we have failed to capture that ... view