Dr. Oburu Odinga

All parliamentary appearances

Entries 1121 to 1130 of 1641.

• 6 Oct 2010 in National Assembly: Mr. Temporary Deputy Speaker, Sir that is a point of argument. However, as we have said, 2.5 per cent is the minimum. If the statutory allocations exceed the 2.5 per cent, in my view, that is described as overpayment. However, strictly speaking, the law talks about 2.5 per cent. The estimation of ordinary revenue is a process which takes into account several factors, including but not limited to historical revenue, performance and projected economic growth, intended administration measures, tax measures and other policy initiatives with implication on revenue allocation. It is important to note that some of these measures are ... view
• 6 Oct 2010 in National Assembly: Mr. Temporary Deputy Speaker, Sir, the hon. Member talks of all revenue from the Government. However, there are practices and the ones we are using are based on the best international practices. You do not include, for instance, charges which were already based on the Consolidated Fund in Acts of this Parliament which were earlier than the CDF Act. How do you then account for the monies which we give to the Local Authorities Transfer Fund (LATF), yet the law says it should be five per cent of the Income Tax? You cannot take the 2.5 per cent for CDF ... view
• 6 Oct 2010 in National Assembly: Mr. Temporary Deputy Speaker, Sir, which law says that investment income is ordinary income? Our understanding of ordinary income is different from your understanding. I should not be interrupted with arguments! view
• 6 Oct 2010 in National Assembly: No, I am not misleading the House. view
• 6 Oct 2010 in National Assembly: Mr. Temporary Deputy Speaker, Sir, let me conclude because as far as we are concerned, if the Committee gives us time, we can appear before them and come to the understanding on the basis of the calculations. We are very ready to do that. In view of the foregoing and as long as the CDF allocation is based on estimates of revenue of the Budget year, it will be difficult to avoid variations, however small. Mr. Temporary Deputy Speaker, Sir, the Treasury confirms that they have no arrears owing to the CDF which is yet to be disbursed. Secondly, the ... view
• 6 Oct 2010 in National Assembly: On a point of order, Mr. Temporary Deputy Speaker, Sir. Is it in order for the hon. Member to imply that we are dishonest? That is imputing improper motive on another Member without a substantive Motion. view
• 12 Aug 2010 in National Assembly: Mr. Speaker, Sir, I beg to reply. (a)The Central Bank of Kenya has not registered any company to purchase non- performing loans held by collapsed banks and pyramid schemes. (b)Since no company has been established as stated in part ‘a’ of this answer, a timeframe cannot be envisioned when such assistance can be accorded to the institutions. view
• 12 Aug 2010 in National Assembly: Mr. Speaker, Sir, we have not contemplated establishing a debt management company. This is because the CBK has put in sufficient safeguards in regard to bad debts, particularly the debts from collapsed banks, banks which have gone bankrupt and so on. There are very clear guidelines given to these institutions as to how to deal with bad debts. In the first place, debts have clear provisions by the banks in order to take care of them and not to spoil their books. Thereafter, those institutions have sufficient mechanisms to do recovery of outstanding debts, even though they have already given ... view
• 12 Aug 2010 in National Assembly: Mr. Speaker, Sir, the DPF was established to protect the ordinary and particularly the small depositors. It has done so since it was established in 1985. There are very many Kenyans who have been involved with those banks which have collapsed. So far, the provisions of the law which established the DPF provides for Kshs100,000 to view
• 12 Aug 2010 in National Assembly: be given as initial protected fund. If there are any balances, the Statutory Management which is appointed by the CBK then puts into place a mechanism for recovery of the outstanding debts. As they are recovered, provisions are made for the cost of recovery and the balances are paid to the ordinary Kenyans by the DPF as dividends. view