Dr. Patrick Mweu Musimba

All parliamentary appearances

Entries 391 to 400 of 525.

• 27 Aug 2015 in National Assembly: A point of order is the only way; it is an order in the Standing Orders. view
• 19 Aug 2015 in National Assembly: On a point of order, Hon. Temporary Deputy Speaker. 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
• 19 Aug 2015 in National Assembly: Thank you, Hon. Temporary Deputy Speaker. Just to take up from where the Member for Balambala has left, I think the utilization of the word “tyrant” is, indeed, misplaced because the people of the Republic of Kenya take it upon themselves, as their constitutional obligation, to elect leaders of good standing. Leaders stand for the Constitution as per our oath which is very clear that we are going to uphold the rule of law and act in the best interest of the Republic of Kenya. Indeed, the preamble prayer, prior to all our proceedings is: To offer good service to ... view
• 19 Aug 2015 in National Assembly: Thank you. view
• 18 Aug 2015 in National Assembly: Where the sun sets. view
• 18 Aug 2015 in National Assembly: Thank you, Hon. Speaker. I want to contribute to this Finance Bill. It has by and large good measures. My concerns are on the following. I will start with what my colleagues ably talked about, particularly capital increase for banks. We must realize that the overall performance of this economy over the last 15 years or so--- The Budgets that we read, for instance, last year was for close to Kshs2 trillion. The country’s Gross Domestic Product (GDP) was roughly Kshs1.4trillion - that is a double effect. view
• 18 Aug 2015 in National Assembly: When you now talk of increasing the capital threshold of banks, from Kshs1billion to Kshs5 billion in a space of about four years, without thinking of how we are going to grow it, it is like saying everybody should become a hypermarket overnight. There is something which I was discussing with my colleague, that is going to the bank for many people is intimidating. 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
• 18 Aug 2015 in National Assembly: Even in the large banks you do not get to see the core decision-makers when you are interacting with screens, which are tell you that this is what your capital ratio is and this is what we are charging. The advantage of having smaller banks within is that you will relate with the CEOs, discuss the immediate needs, get advisory services, and learn about licenses that are within the Capital Markets Authority (CMA). We have seen an active sector which has compelled the bigger banks to get a multiplicity of CMA licenses in the areas like insurance, banking and revenue ... view
• 18 Aug 2015 in National Assembly: The other measures which I have seen in the Finance Bill are about the waiver of penalties and interest over financial years preceding the last one. If we are already acknowledging this - indeed the National Treasury is seeing that this has been prohibitive to business - then we should adopt a policy which simply says that there shall not be penalties and interest. The people who do not pay whatever has been adjudged as their tax due, will be deregistered according to the Companies Bill. We are about to pass a pretty robust Companies Act and Insolvency Bill, which ... view
• 18 Aug 2015 in National Assembly: The other area is the Pay As You Earn (PAYE). Now we are talking about relief to the greater economy, especially in the light of the increase that we have had in the National Hospital Insurance Fund (NHIF) rates. People earning below Kshs35,000 should be exempted from paying PAYE Tax. Instead we can choose to have a consumption tax regime or direct taxes. I believe that they will be shouldered within the economy by adding 2 percentage points on Value Added Tax (VAT). If it goes a consumption tax, people will be greatly shielded from this sort of hiccup because ... view