Dr. Patrick Mweu Musimba

All parliamentary appearances

Entries 401 to 410 of 525.

• 18 Aug 2015 in National Assembly: It is not a lot of money, when you think about it, to the economy. In relation to this, we see that in this Finance Bill, prior to conventions and the traditions of the House, Budgets which have been read in previous years have always been such that every single tax measure that was mentioned--- We are always informed of exactly what the Executive is hoping to raise from that tax measure. When the Budget was read in this financial year, we were not told in nuts and bolts how much revenue they are trying to raise. This needs to ... view
• 18 Aug 2015 in National Assembly: My other point is about the Deposit Protection Fund (DPF). We reviewed the threshold last time. It is at Kshs100,000 for depositors. In fact, the Member for Balambala has spoken about the collapsed institution. It is time for the National Treasury to look at increasing this ratio from Kshs100,000 to a minimum of Kshs1million. Now that we are embracing more and more of mobile money phenomena, we can transmit money in real time because we have things like The electronic version of the Official Hansard Report is for information purposesonly. A certified version of this Report can be obtained from ... view
• 18 Aug 2015 in National Assembly: “Know Your Customers (KYC)” arrangements in place. There is absolutely no reason why we should not be enabling commerce and not limiting it, for example M-pesa transactions at Kshs140,000, and move the Equitel direction, which is tells you that you can transfer as much as possible because they already know you as a customer. So, the deposit protection levels need to increased, so that we stir up greater confidence within the market, and provide an enabling base for growing Kenya as a destination for investments. view
• 18 Aug 2015 in National Assembly: There is also a point about the establishment and waiver of duties and things on application to the Cabinet Secretary (CS) of the National Treasury on industrial parks and leisure parks. Limiting it to 50 acres is going micro in thinking. We should simply say that we want to create a leisure park, especially now that we have the new disposition of counties. You can see what the Governor for Machakos has ably done with the people’s park. It is a leisure facility. It might not be as big as 50 acres, but, at least, it will encourage more counties ... view
• 18 Aug 2015 in National Assembly: This also brings in the other side in creating what has always made Kenya great, which is the family. So, we must encourage investments going in there and increase a size of not just 50 acres. It can even be five acres because there are places I am sure, like Kiambu, where land is precious. For somebody to earmark 50 acres for a project, is to talk of the value in the billions of shillings; with this you are able to say that you are creating a leisure park for investments, you need to encourage more profitable ways and push ... view
• 18 Aug 2015 in National Assembly: So, by and large, the Finance Bill in principle is okay. I just call upon the Committee, whose report we are awaiting to have in it tangible proposals. view
• 18 Aug 2015 in National Assembly: I thank you. view
• 9 Jul 2015 in National Assembly: Thank you, Hon. Temporary Deputy Speaker, for giving this opportunity. I stand in great excitement when it comes to entrepreneurship. This Bill is going to herald a new generation of entrepreneurs. As we know, entrepreneurs contribute more than 60 per cent of the Gross Domestic Product (GDP). In most cases, they remain informal because of recording. This Bill will ensure that entrepreneurs have a clear path for rising from small and medium enterprises to become multinational corporations, because of the enabling structures contained herein. We must always remember that all companies are formed to give them the legal and ability ... view
• 9 Jul 2015 in National Assembly: which notable entrepreneurship grew. That was in the early 1950s, 1960s and 1970s. To name just but a few we had the late Njenga Karume, the late Phillip Ndegwa, Duncan Ndegwa and James Mwangi, who developed quite impressive empires. We have seen a lot of companies formed in the past. With this legal backing, we will grow more of them. The transition from Cap. 486 itself will herald a new kind of corporate governance, as I alluded to earlier on while commending the Chairman of the Departmental Committee on Justice and Legal Affairs for a job-well-done, I said that any ... view
• 9 Jul 2015 in National Assembly: less profits which are distributable to individual investors. New stories will emerge on how to relate with people like Bill Gates and Mark Zuckerberg, whom markets helped and their companies achieved a lot of capacity and share growth. I am very happy to have learnt that Rwanda picked from our proposal and was ranked top 30th in the world in terms of business attractiveness. This will take us to a new hilt. The transition will ensure that Kenya becomes a strong pillar not just in the region because we are targeting a market of 120 million people. Probably it will ... view