President Uhuru Kenyatta has ordered a Sh16.675 billion additional fuel subsidy in the latest review of the fuel prices.
President Kenyatta saves Kenyans after fuel prices review
The subsidy funding comes even after the government announced the withdrawal of the fuel subsidy
In statement by the State House Spokes Person Kanze Dena, the fuel prices which are reviewed every 14th day of the month, the current prices have remain unchanged in what the government says is aimed at cushioning Kenyans from an increase in the essential commodity.
Based on the release by State House fuel prices will continue to retail at Sh159 for Petrol, Sh140 for Diesel and Sh127 for Kerosene.
“It is notified that his excellency the president has today authorized an additional fuel subsidy of Sh16.675 billion so as to cushion Kenyans from a further increase in fuel prices,” read the statement from State House.
The government further said more measures were going to be rolled out for the betterment of Kenyan lives.
“As a caring government we will continue to roll out similar actions so as to provide further direct relief to all Kenyan families and establish the necessary safeguards for protecting Kenyan consumers from further increases in the cost of living,” concluded the statement.
Before the announcement Kenyans expected an increase in the prices of fuel after the government announced the removal of the fuel subsidy after the government said the allocation for the subsidy had been surpassed.
According to the National Treasury, the government had spent a total of Sh101.8 billion which surpassed the Sh100 billion which the sector was allocated.
“The cost of fuel subsidy could eventually surpass its allocation in the national budget thus potentially escalating public debt to unsustainable levels and disrupting the government’s plans to reduce rate of debt accumulation,” Treasury Cabinet Secretary Ukur Yatani said.
The stability of the fuel prices means the prices of basic goods are also unlikely to be changed
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