Investment committee held 148 sittings in effort to clamp down on financial scams

The National Assembly's Public Investment Committee (PIC) has remained vibrant in discharging its oversight role and recommending prosecution of public officers implicated in various scams.

PIC's mandate is to ensure prudent use of public resources in terms of autonomy and efficiency. The committee also checks whether the affairs of public investments are being managed according to sound financial or business principles.

Under the leadership of Adan Keynan (Aldas) and with a membership of 27 legislators, the committee has held a total of 266 sittings to probe various financial matters touching on investment in the country.

"This year alone, we had 148 sittings. This is a record number to deliberate over various issues including Auditor General Edward Ouko's reports, the Standard Gauge Railway project among others," Mr Keynan said.

Keynan acknowledged his team's determination to carry out its oversight role, noting that since the committee was constituted last year, it has produced seven reports.

"Two of the reports have been debated and adopted by the House, the remaining five have been tabled and are scheduled for debate," he said.

Maize supply

The two that were adopted were the special report on the contract between the National Cereals and Produce Board and Erad Supplies and General Contracts Limited on the supply of white maize, and the special report on the procurement and financing of the construction of the Standard Gauge Railway from Mombasa to Nairobi (Phase I).

The Aldas MP remained optimistic that the pending reports, which include the procurement and financing of the National Social Security Fund Tassia II Infrastructure Development Project and the tendering for the proposed Kenya Bureau of Standards Coast Regional Offices and Laboratories in Mombasa would be adopted early next year.

Others include the recapitalisation and balance sheet restructuring of Telkom Kenya Limited, the restructuring of Kenya Petroleum Refineries Limited and tendering for an independent consultant to design, review and supervise construction of the Standard Gauge Railway, and procurement and installation of facilities, locomotives and rolling stock.

"The pending reports also include the committee's annual report on the audited accounts of State corporations, special report on the procurement of Kenya Pipeline Company Line 1 petroleum pipeline from Mombasa to Nairobi, special report on the sale of property in Karen and Kenya Industrial Estates and statement on the sale of scrap metal at Kenya Railways Corporation," he said.

Keynan said local travels enabled the team to write the committee's main reports.

"The committee undertook three inspection visits to inspect various projects. We visited Moi Teaching and Referral Hospital, Kenya Seed Company Limited, Nzoia Sugar Company Limited, Mumias Sugar Company Limited, Kenya Ports Authority and Kenya Airports Authority," he said.

The committee also made trips to Turkey, Namibia, China and India.

"Our visit to Turkey helped us benchmark best practices in financial oversight and accountability, as well as learn and share experiences on government investments," he said.