Controversial Gatundu South Member of Parliament has exposed what he termed as wanton corruption and plunder at the Treasury.
Speaking during an Interest Rate Cap debate forum in Nairobi, Kuria said the Parliamentary Budget and Appropriations Committee, headed by Kikuyu MP Kimani Ichung’wah was also complicit.
Kuria, a member of the committee stated at the forum that Parliament had a huge role in the current economic crisis in the country and that the executive had played the dirtiest role in the whole matter.
“I want to say that we have lied to Kenyans and we have also failed in our oversight responsibility,” said Kuria.
“The reason we are in this hole is because we (Parliament) could have said ‘NO’ but we said ‘YES’,” he added .
Kuria would proceed to offer an apology on behalf of Parliament for misleading Kenyans on budget figures and the sky-rocketing borrowing.’
“For seven years, we have cheated this country about our deficit, we have cooked books, we have cheated people that we do zero-based budget,” Kuria stated.
Kuria challenged the Executive to follow suit and apologise to the country before they face the consequences of their actions.
“I want my good friends Mr Rotich and Thugge to look at Kenyans in the eye and say that they have committed treason for seven years,” Kuria continued.
The legislator said the Government Departments and Agencies had been allowed to borrow commercial loans at between 9 per cent and 10 per cent when the World Bank and Africa Development Bank (AfDB) offered cheaper loans at 1 per cent.
“Just tell me whether those people will not burn in hell,” Kuria quipped, suggesting that the Treasury CS Rotich and PS Kamau Thugge had allowed this vice for kick-backs.
“As Parliament we have failed Kenyans because we have sold to them the romantic story that all is well. We failed in our oversight role because we could have said NO but we said YES, selling lies that all is well. We are doing badly as an economy…”
— Citizen TV Kenya (@citizentvkenya) November 5, 2019
In October, the Parliamentary Budget Committee proposed to cap commercial borrowing at Sh9 trillion which is double the previous cap which was measured as a percentage of the Gross Domestic Product.
The Government is said to have decide to borrow more money to complete stalled projects of road construction and extension of the Standard-Gauge Railway before it embarks on President Kenyatta’s Big Four Agenda projects.
Documents from the Parliamentary Budget committee show that Kenyatta expects loans from AfDB, Japan, China, World Bank valued at Sh410 billion.
Responding to the cash crunch, Treasury CS Ukur Yattani resorted to imposing serious budget cuts that in all Government agencies and departments.
Monday, Chief Justice David Maraga complained of the 50 per cent cuts on the Judiciary, which he said had stalled crucial functions in the third arm of Government.