Peter Kenneth

All parliamentary appearances

Entries 211 to 220 of 438.

• 11 Jul 2007 in National Assembly: Mr. Temporary Deputy Speaker, Sir, the issue that has been raised here is a weighty one and it goes to the very fundamentals of banking in this country. Aspersions have been raised when they should not have been raised because we all know who the Managing Director of Trade Bank was when it collapsed. It was one Ian Rayner. We all know who the General Manager was. view
• 11 Jul 2007 in National Assembly: Yes, Mr. Temporary Deputy Speaker, Sir. We all know who the General Manager of Trade Bank was. He is actually an hon. Member of this House seated on that side of the House. view
• 11 Jul 2007 in National Assembly: There are Standing Orders. Could I, please, answer, then you can ask questions? Mr. Temporary Deputy Speaker, Sir, banking is a fundamental issue. Last year, an issue was raised on a bank here and it led to the collapse of that bank. We must be very careful with some of the issues that we raise here. Unless they are verified and substantiated, we should not make light of the issues. Equity Bank was incorporated in 1982 by an hon. Member of this House who is seated in this House. The share capital at that time of incorporation, was Kshs1 million ... view
• 11 Jul 2007 in National Assembly: Mr. Temporary Deputy Speaker, Sir, from the very beginning, I said that this was a very weighty matter, that we should not make light of. We are talking about the largest institution in this country in terms of a clientele base. There are over one million depositors or clients in that bank. Therefore, we must be serious, precise and go to the point of the truth of the matter. I did not, at any one point, say that the hon. Member cast any aspersions. What I said is that we must not cast aspersions on the integrity of an institution, ... view
• 4 Jul 2007 in National Assembly: Mr. Temporary Deputy Speaker, Sir, I beg to reply. The actual amounts that were disbursed into the CDF Kitty were as follows:- 2003/2004 - Kshs1,260,000,000. 2004/2005 - Kshs5,421,999,997. 2005/2006 - Kshs7,028,619,994. view
• 4 Jul 2007 in National Assembly: Mr. Temporary Deputy Speaker, Sir, first of all, I am not aware that 19 constituencies have not been allocated their money. The reason is that CDF is allocated 2.5 per cent of the ordinary revenue. Where there is a surplus, that has been extended to all the CDF July 4, 2007 PARLIAMENTARY DEBATES 2219 committees, as happened in the 2005/2006. If there was a shortfall in 2006/2007, which the hon. Member has not asked about in his Question, what should happen is that, that should be recovered in the next financial year. That way, no constituency misses its allocation. view
• 4 Jul 2007 in National Assembly: Mr. Temporary Deputy Speaker, Sir, the figure for 2006/2007 was Kshs9,240,000,000. I am not aware about the second question that Mr. Angwenyi has asked. He has asked whether other funds have been disbursed. I am aware that one of the problems that is arising from the Question could be that, arising from the 2.5 per cent that was allocated, there could have been a shortfall in ordinary revenues which would be adjusted in this coming year. The surplus that was distributed, and each constituency got Kshs700,000, was for the year 2005/2006. view
• 4 Jul 2007 in National Assembly: Mr. Temporary Deputy Speaker, Sir, the Shadow Minister for Finance is talking as if the CDF has not improved his own Mandera Central Constituency. He has put his question by saying "this Government" while pointing to this side, as if he is not a beneficiary of the same. The fact remains that CDF has transformed the lives of Kenyans whether hon. Members are from this side or that side. It has concentrated on the basics that the common man in this country requires. One of the things that I agree with, and one that has been a matter of consideration ... view
• 4 Jul 2007 in National Assembly: Mr. Temporary Deputy Speaker, Sir, basic accounts require that when there is a surplus, it is appropriated. When there is a shortfall, it is recovered from retain earnings. In this case, retain earnings would be from the next allocation of the CDF which is this year's allocation. It cannot be recovered retrospectively. What we are speaking about is that in the year 2005/2006, there was a surplus. Hon. Members got the surplus. In the last financial year, where this shortfall has come in, it will have to be recovered from the CDF allocation for this year. view
• 4 Jul 2007 in National Assembly: Mr. Temporary Deputy Speaker, Sir, I am not avoiding any question. First of all, I am not even aware of the facts that are being quoted here that there was transfer of funds. I am more concerned with the shortfall that has arisen and which is affecting 19 constituencies. I am looking for the best way to move forward. That is what I have been responding to. view