Zachary Kwenya Thuku

All parliamentary appearances

Entries 1 to 10 of 443.

• 4 Dec 2024 in National Assembly: Thank you, Hon. Temporary Chairman. In as much as I would wish to support this amendment I think the timeframe cited is too short. Growing from a core capital of Ksh1 billion to Ksh10 billion within a span of four years is really unreasonable. Like Hon. Caroli said, we will kill the upcoming little banks whose capital is Kshs1 billion. It will be too ambitious to bring them to speed and have Ksh10 billion within four years. I oppose this amendment. view
• 4 Dec 2024 in National Assembly: I support that amendment for the simple reason that asking manufacturers to register with the standards body… view
• 4 Dec 2024 in National Assembly: No. I am supporting that amendment, because asking the manufacturers to register with the standards body will increase the cost of doing business. Having said that, the issue of registration of products perhaps should have been brought into this Act so that every product that is produced by any manufacturer is registered with the standards body. Thank you. view
• 4 Dec 2024 in National Assembly: Thank you. I do not find this amendment necessary for a simple reason. Of course, there are articles and Memorandum of Association that we use to register companies at the Registrar of Companies. Therein we address the kinds of businesses we will carry out. It does not mean a company will be manufacturing immediately it is registered and captured as a manufacturing one. Therefore, we may burden the Director-General and the Registrar of Companies with much work to forward the information to KEBS. It is not necessary. Finally, it is the obligation of the manufacturer to register their products with ... view
• 4 Dec 2024 in National Assembly: Thank you, Hon. Temporary Chairman. I support the insertion of this new clause. Business people have suffered in this country in the hands of the Government and its entities. You supply goods, with the expectation that you are going to be paid in good time. Business people issue E-TIMS invoices. The moment you issue that invoice, you are deemed to have completed a sale and KRA takes charge. You are supposed to submit that money on the 20th day of the month. If you do not do that, then the amount starts generating penalties and interest. This amendment could not ... view
• 3 Dec 2024 in National Assembly: Hon. Temporary Speaker, I heard the Member mention the Tax Laws (Amendment) Bill, which is not being discussed today. Is he anticipating debate against the rules of the House? view
• 3 Dec 2024 in National Assembly: Thank you, Hon. Temporary Speaker, for the opportunity to contribute. I was checking with the Clerk-at-the-Table to ensure I am still in the queue. First, I wish to take this opportunity to support this omnibus Business Laws (Amendment) Bill. I am very happy with this Bill because, for the first time, we are addressing issues that affect Kenyans directly. As much as I support the Bill, there are areas that I am uncomfortable with. As a legislator, I will propose amendments, especially on the issue of increasing the core capital of our banks to the tune of Ksh10 billion within ... view
• 3 Dec 2024 in National Assembly: 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
• 3 Dec 2024 in National Assembly: the industry, meaning that we are creeping back to the dark days when we only had a few banks that monopolised the market. They had created a cartel which controlled lending in terms of interest rates. They got to a place where they would not provide banking services to the so- called small traders. They would not take small monies. It is only right to increase the term from three to 10 years. We should stagger the same and require that the banks increase their core capital by Ksh1 billion every year for 10 years so that we do not ... view
• 3 Dec 2024 in National Assembly: 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