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Tuesday, August 15, 2023 –Government has restored the scrapped fuel subsidy programme that was started by the retired head of State, Uhuru Kenyatta during his tenure.
Energy and Petroleum Regulatory Authority EPRA, on Monday, August 14, restored the subsidy which Ruto had trashed on September 15 2022 on the grounds that the former regime misused the billions.
EPRA new price review has announced the return of the fuel fund dubbed the Petroleum Development Fund PDF so that to help cushion citizens from higher fuel cost that was recently triggered by doubling of the Value Added Tax VAT on fuel.
Through the controversial Finance Act 2023, the State announced a double on the VAT charges from the normal 8 percent to 16 percent; something that did not auger well with many businessmen in the country.
According to the energy regulator, the increased landing costs of fuel also occasioned the return of the subsidies which Ruto had firmly campaigned against.
Ruto and his camp went overboard to accuse the previous regime of misusing the funds to benefit a select oil marketers and cartels.
They said the billions used as subsidies had been directed to the pockets of few individuals who did deliver services.
“Do you know how much we have been losing in this programme? Fuel subsidy has been costing us sh 15 billion every year and yet it was just being looted,” Ruto said in an interview on Citizen Tv.
In its Monday update, the authority explained that the reintroduced Petroleum Development Fund will thus be used to compensate importers of the commodity at sh 7.33, Ksh3.59 and sh 5.74 per litre of petrol, diesel & kerosene, respectively.
On Tuesday August 15 morning, Economic Advisor for the President, David Ndii, defended the return of the subsidy fund saying it is because their government will not tolerate acts of corruption with the money.
