Treasury officers face sanctions over gasoline subsidy cash

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Economy

Wednesday October 06 2021

ukur-yatani

National Treasury Cabinet Secretary Ukur Yatani at some level of the launch of Financial Scrutinize Document 2021 on September 9, 2021. NMG PHOTO

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By JOHN MUTUA

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Summary

  • Senior officers on the Treasury and Ministry of Petroleum possibility sanctions for diverting Sh23.6 billion meant for the gasoline subsidy, a depart that resulted in the discontinuation of the design final month and pushed pump prices to sage highs.
  • National Assembly Speaker Justin Muturi acknowledged Tuesday MPs would net on the destiny of the officers after they debate committee strategies on the evaluation of the pricing of petroleum merchandise.

Senior officers on the Treasury and Ministry of Petroleum possibility sanctions for diverting Sh23.6 billion meant for the gasoline subsidy, a depart that resulted in the discontinuation of the design final month and pushed pump prices to sage highs.

National Assembly Speaker Justin Muturi acknowledged Tuesday MPs would net on the destiny of the officers after they debate committee strategies on the evaluation of the pricing of petroleum merchandise.

The State discontinued the gasoline subsidy that had kept pump prices unchanged since April attributable to a lack of money within the kitty, a resolution that noticed petrol and diesel prices soar to a historic excessive of Sh134.72 and Sh7.94 to Sh115.6 a litre respectively.

“That it’s probably you’ll possibly now not present that on one hand, which that you can fetch this levy for this cause, then in some method you build your fingers, clutch away cash and the set it was spent, no one seems to understand,” Speaker Muturi acknowledged  on Tuesday.

“I adore what the committee has completed so as that as a home which that you will likely be in a subject to construct a dedication on what to achieve with those fingers must which that you can lower them off.”

The Committee on Finance will desk its file before Parliament subsequent week, atmosphere the stage for debate on the sanctions in opposition to the head officers.

Treasury PS Julius Muia told MPs that it received a are looking ahead to of Sh5 billion to stabilise pump prices a month to October 14 but might possibly now not honour it attributable to the shortcoming of funds.

Oil sellers received Sh8.64 billion from the State in compensation for the 5 months that gasoline prices remained unchanged

Motorists have been contributing Sh5.40 per litre to the subsidy design since July final 365 days after the Petroleum Building Levy was elevated from Sh0.40.

Mr Muia added that the kitty had a balance of Sh3.6 billion, raising questions on the expenditure of the billions of shillings composed via the levy since July final 365 days

The Treasury administers the Petroleum Building Levy on behalf of the Ministry of Petroleum and Mining.

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