Home Business News Economy Transport set to be paralyzed on Wednesday

Transport set to be paralyzed on Wednesday

- Advertisement -

Transport sector is set to be paralyzed on Wednesday in protest of the increased fuel prices.

The Kenyan Motorist Association has called out on Kenyans to park their vehicles on major roads to protest the increased pump prices.

In a new plan, Treasury will implement a 16 per cent VAT on all petroleum products come September 1st thus increasing the fuel prices by Ksh 17 per litre.

According to Kenya Motorist Association chairman Peter Murima, the Energy Regulatory Commission has been hiking fuel prices since the election and at any time they want to increase prices, they usually go for fuel.

In Nairobi alone the price for petrol will shoot to Ksh 131.93, diesel Ksh 119.38 and kerosene to ksh 98.54.

Also read:EACC arrest a businessman attempting to bribe Governor Sonko

The VAT implementation comes into action following part of September 2013 by International Monetary Fund (IMF) but it was suspended for three years and extended for another two years in 2016. It’s due to the delay that Treasury has vowed to implement the prices this coming September.

KMA chairman Mr. Peter Murima has called for drivers to dump their vehicles as early as 7:30 AM.

The increase of fuel prices will see increased inflation as there will be increased cost of production and manufacturing of commodities by both large and small scale companies.

Transport charges will increase together with cost of goods and services meant for household consumption.

So as to reduce the increased cost, companies may have to lay off some of its workers and making it difficult for equal distribution of wealth across the country.

Increased inflation may cause citizens to lose faith in their currency and make it hard for a country to attain its GDP growth.

Slavian Mwangecho
Passionate blogger on a day to day activities happening in Kenya, Africa and around the world. A keen follower of the latest news making headlines around the world

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Five arrested engaging in electronic money fraud

Detectives bases at Kasarani have arrested five people on suspicion of engaging in electronic money fraud in the capital of Nairobi.

5.9 magnitude earthquake hits Mombasa and Dar es Salaam

An earthquake of 5.9 magnitude has rocked Dar es Salaam, Tanzania and Mombasa at around 08:15 pm.Other parts...

Former MP Danson Mungatana released on Ksh 20,000 bail

Former Garsen MP Danson Mungatana and his co-accused have on Wednesday been released on Ksh 20,000 each.The...

COVID-19: 1-month old infant among 679 new cases in Kenya

Kenya has confirmed 679 new cases of COVID-19 cases one of them being a 1-month-old baby bringing to 28,104 the total number...