By PSCU
The National Assembly has passed the Supplementary Appropriation Bill, 2024.
The Supplementary Appropriation Bill, 2024 provides statutory authorization for public spending until the end of the month.
It is based on the Supplementary II Estimates of Expenditure for the current financial year and allocates funds for recurrent and development expenses.
The Act seeks to authorize the issuance of certain sums of money from the Consolidated Fund and apply it towards the service of the year ending 30th June and appropriated for certain public services and purposes.
It authorizes the National Treasury to issue a KSh102.3 Billion out of the Consolidated Fund and apply it towards certain services before the financial year.
“Honourable Speaker, A lot has changed when it comes to our interest rates. Therefore, we have had to revise our Cash Flow Statements (CFS) to reflect the current Dynamics in the interest rate market and the exchange rate Market for our financial obligations both domestically and externally,” declared Nyoro when substantiating the revision in the estimates.
“Generally speaking, in creating this Supplementary II, we are channeling funds to where the Kenyans are. That is why we have targeted agriculture through fertilizer allocation as well as giving money to the education sector, and the Security sector which is the core of any Government administration,” he added.
The Bill underwent first reading, second reading, Committee of the Whole House, and third read sequentially. This is after the House unanimously passed Nyoro’s motion to reduce the publication period from seven days to one day, in line with Standing Order 120 of the National Assembly.
During the third reading of the Bill, Tharaka MP and the Chairperson of the Justice and Legal Affairs Committee, George Murugara emphasized that Parliament was capable and ready to fulfill its key duties of representation, budgeting, and oversight.
“As the Government moves to execute what we have allocated to them, we as Parliament will be there to ensure that there is prudent utilization of public Funds,” assured Murugara.
Seme MP, Dr James Nyikal in echoing sentiments made by the leader of the Majority Party Kimani Ichungw’ah called on the treasury to ensure that there is timely release from the exchequer to ensure that all appropriated funds are utilized as intended by the Supplement.
He further called on the Ministries, Departments and Agencies (MDA’S) allocated Funds to ensure that they utilize the said funds fully or else they be sanctioned by Parliament.
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