Cofek urges Uhuru, parliament to intervene on fuel-driven inflation
By Claire Wanja
The Consumers Federation of Kenya (Cofek) has warned that the steep increase in fuel prices will occasion higher cost of the living.
Cofek is now appealing to the National Assembly to urgently review the Fuel Maintenance Levy which was increased from Sh12 to Sh18 for every litre of petrol and diesel.
It says the the Finance, Trade and Planning Committee of Parliament must do more.
“The Budget and Appropriations Committee equally failed to demand that National Treasury undertakes austerity measures.”
In a statement Friday, Cofek notes that consumers are already reeling from an enhanced cost of food, transport and electricity. Coupled with prevailing higher cost of credit, Kenya is destined for economic depression.
“Sustained high consumer prices will cut shrink the consumer spending. It will also affect production. Job cuts and economic downturn will follow.
Cofek is urging President Uhuru Kenyatta to recall his pre-election pledge of cutting the cost of living.
“With enhanced austerity measures and a slight cut in the surging corruption levels, there will be no need to burden Kenyan consumers on high fuel costs.” It added.