Losiakou David Pkosing

All parliamentary appearances

Entries 501 to 510 of 1091.

• 3 Jul 2019 in National Assembly: So, they have bought seven aeroplanes with the loan from Tsavo Limited which consists of Citi Bank, J.P. Morgan Chase and the African Export-Import Bank (Afrexim Bank). Those are reputable banks that you and I have borrowed money from. So, who is Samburu Limited? KQ has bought 10 aeroplanes though a loan from Samburu Limited, which is owned by Standard Chartered Bank and Afrexim Bank. Most of us here bank with Standard Chartered Bank because it is a well-known bank. That is why we are raising these issues and giving good information. For example, the 10 banks which lend KQ ... view
• 3 Jul 2019 in National Assembly: In that respect, with good information, we can help our country. It is now high time that leadership is called upon in this country to save the aviation industry. We have done what we were supposed to do as a country. As a Committee, we dissected and listened to everybody and we all agreed to help the aviation industry. I want to plead with the country and the House that in terms of transport, if we put our concentration in making profits from the first line of investments that we have, then we are lost. In transport, our concentration in ... view
• 3 Jul 2019 in National Assembly: For example, if we own airplanes, ships or matatus, then we should be thinking of how we can move more people so that they can do business in our country and we make money. If we want to make money from our first service, then we will make transportation very expensive and that is how far we have pushed KQ. It is a private entity and their interest is not to help the people of Kenya, but to make money for shareholders. That is the business of a private entity. It is not their responsibility to say how they should ... view
• 3 Jul 2019 in National Assembly: Therefore, in this Report, we want to shift our mind and say that it should be the responsibility of the Government of Kenya to provide transport for its people. That is why we want KQ to become a Government entity so that, tomorrow, we can ask them how many people they have brought to Kenya and how much they have made. Even as KQ struggles, we realised in this inquiry that it is able to inject more than Kshs100 billion to our economy every year. That is why we should concentrate so that they can move from making Kshs100 billion ... view
• 3 Jul 2019 in National Assembly: That is the reason why this Committee is pleading with the House and the people of Kenya to understand, agree with us and adopt this Report. According to this Report, things will change and transport costs will come down. As I conclude, I want to address the issue that Kenyans are asking; about how much nationalisation will cost us. Will it be very expensive? It is not going to be more expensive than going this direction which will kill the aviation sector. That is because we have done our mathematics. The minority shareholders are about 2 to 3 per cent ... view
• 3 Jul 2019 in National Assembly: Kshs800 million. view
• 3 Jul 2019 in National Assembly: This is because there is no other alternative. The minor shareholders are the ones who are trading. The banks shares are not trading and they can be converted into bonds and transacted soon. We asked the National Treasury and they agreed with us that they can be converted into bonds. Then, we can free KQ from all these burdens within the next six months and give it a new mandate. Our transport will be cheaper and we can move easily. I want to clarify this so that people do not start asking about an alternative and how much it will ... view
• 3 Jul 2019 in National Assembly: After all, Kshs75 billion is already committed. In the event that something happens, we will lose a lot of money. So, why should we not make a sacrifice and have a primary investment of about Kshs800 million as I explained and then we can proceed? This is the new direction we are asking the House and the people of Kenya to agree with us. We did extensive study and heard many people. Everybody wants us to have a better aviation. I want us to look at it as aviation and not like one installation. view
• 3 Jul 2019 in National Assembly: There was also debate on what will happen to KAA and KQ and we cleared this quickly. KQ is making more than 70 per cent of the revenue of KAA. This means that if KQ dies, then KAA will automatically die. This means they have a symbiosis relationship. Actually, they are conjoined twins. That is why we agreed to have them as a holding company. view
• 3 Jul 2019 in National Assembly: With those many remarks, I beg to move and ask my colleague Hon. Kemosi Mogaka to second me. I thank you for giving me this historic opportunity to present our Report in aviation. view