What Gideon Moi said after Fuel prices was hiked!

Presidential aspirant Gideon Moi has finally responded to government after fuel increment.

“The recent increase in the fuel retail cost by the Energy and Regulatory Authority for the September-October period is not only punitive but is also inconsiderate of the plight and suffering of the Kenyan people.

“As a country whose economy is driven by diesel, there is no doubt that the manufacturing industries will shift the cost burden to the ordinary Kenyans. These Kenyans, by large extent being the consumers, will painfully bear the brunt of the tax incidence as a result of the exorbitant cost of fuel, which has hit a historical high.

“It must not be lost on us that COVID-19 has and continues to wreak economic havoc, occasioning loss of jobs, destruction of livelihoods, and a deep decline in household incomes with a devastating spillover effect even on the social lives of Kenyans.

“Therefore, it is unimaginable that at such hard times, we are exacerbating the economic turmoil that Kenyans find themselves in instead of providing safety nets to ease their suffering.

“As it stands, the fundamental problem bedeviling our fuel pricing mechanism is the opaqueness shrouding fuel price adjustments by the Energy and Petroleum Regulatory Authority. As the body mandated by the law to regulate oil prices by calculating the maximum retail pump prices of petroleum products, they must not erode the confidence that Kenyans have bestowed upon them.

“While the corresponding international fuel price has been on an upward trajectory with an impact on the local retail price, we must never use this as an excuse to subject Kenyan to untold suffering since a significant cost of fuel at the pump is often channeled to the tax coffers.

“In June, the National Treasury set aside Kshs. 1.4 billion for the operation of fuel price stabilization mechanism to regularize fuel cost which the government has not harnessed to steady the rates.

“Additionally, it is time that as a country, we hold honest and candid conversation around and about our tax regimes. They are unsustainable to Kenyans and disincentivise both local and international investment potentials.

“For the proprietors of small, micro and medium enterprises, it amounts to an economic torment when it is public knowledge that the informal sector is the greatest source of employment opportunities for Kenyans.

“More than ever, it is time the government reinstates fuel subsidies that came in handy to cushion ordinary Kenyans from the volatility of oil prices.” Gideon stated.

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