By ALPHONCE SHIUNDU ashiundu@ke.nationmedia.com
Posted Friday, February 10 2012 at 18:43
Posted Friday, February 10 2012 at 18:43
Minister’s honeymoon
If you thought the acting Finance Minister Njeru Githae was joking when he said he needed a 100-day honeymoon to learn the ropes, well, he was serious.
Getting hold of him on his cell phone has become quite difficult. I’ve been looking for him because some Kenyans want answers.
They want to know the progress with MPs regarding the Finance Bill, taming banks and managing interest rates; if he’s gone through the Public Finance Management Bill that covers the devolution of resources; and if he’s been in touch with Parliament’s Committee on the decline of the shilling whose report will be tabled in the House next week.
They’d also like to know the progress of the preparation of the Supplementary Budget. Clearly, for such a crucial ministry, 100 days right in the middle of a financial year is too long a time.
In any case, who granted him permission to take the honeymoon? The appointing authority said “the appointments take effect immediately”.
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Kibaki on loan rates
Was the government’s move to source for cheaper loans of $600 million from an international syndicate of banks informed by the President’s view that local banks had manipulated the Central Bank to raise interest rates?
I have the view of President Kibaki about banks, regulation, and borrowing. He made them when contributing to the “Donde Bill” (Central Bank of Kenya (Amendment) Bill) back in the 2000, when there was a similar crisis of shilling depreciation, high inflation and high interest rates.
“...The origin of the problems which our economy faces right now has to do with mismanagement of finances of this nation…. I want to appeal to those implementing this Bill not to be bullied by commercial banks.
“The government should not be intimidated by commercial banks to raise interest rate on Treasury bills so that they can continue lending the government,” he said back then, when he was a big shot in the opposition. Well, does he still fancy legislation to tame interest rates?
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Quiet advice to MPs
There’s an extreme quiet advice from the officialdom in Parliament.
When the parliamentary team descends on provincial headquarters on Thursday, February 16, 2012 to collect views on the proposed constitutional amendment, MPs will have to shut up.
This is because it is a chance for the public to air their views on when they want the elections held and how the gender quota in the National Assembly will be balanced.
These views will enrich the impending debate in Parliament as to whether the Bill to amend the Constitution to change the election date and provide a mechanism for beating the two-thirds gender cap ought to be legislated upon.
MPs will have to wait until the debate comes to Parliament to give their views on the Constitution of Kenya (Amendment) Bill.
Never say you weren’t told to come out and speak about it, because you might just be forced to skip Christmas again.
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