22 Sep 2021 in Senate:
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22 Sep 2021 in Senate:
seven levies and two taxes on our fuel. On top of that, the one levy where there is leeway to cushion Kenyans is the Petroleum Development Levy. That is where the answer on this question is. Between July 2020 and July 2021, Kshs14.6 billion has been collected. In July 14, 2021, there was supposed to be an increase by EPRA, but they did not do it. It was supposed to go from US$ 0.7 to US$1.2, but they cushioned because they said they could have used that fund.
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22 Sep 2021 in Senate:
seven levies and two taxes on our fuel. On top of that, the one levy where there is leeway to cushion Kenyans is the Petroleum Development Levy. That is where the answer on this question is. Between July 2020 and July 2021, Kshs14.6 billion has been collected. In July 14, 2021, there was supposed to be an increase by EPRA, but they did not do it. It was supposed to go from US$ 0.7 to US$1.2, but they cushioned because they said they could have used that fund.
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22 Sep 2021 in Senate:
We just need to amend that pricing formula and do two things: one, we need to do a thorough audit of that Petroleum Development Levy. The people I have spoken to suspect there is a hole in that levy and money that is not accounted for. This is because by now they should be able to come and tell our Committee how much has been collected since its introduction. Remember it was Kenya cents 40 and now it is Kshs5.40. In that period, I suspect close to Kshs40 to Kshs50 billion has been collected. That is the amount of money ...
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22 Sep 2021 in Senate:
We just need to amend that pricing formula and do two things: one, we need to do a thorough audit of that Petroleum Development Levy. The people I have spoken to suspect there is a hole in that levy and money that is not accounted for. This is because by now they should be able to come and tell our Committee how much has been collected since its introduction. Remember it was Kenya cents 40 and now it is Kshs5.40. In that period, I suspect close to Kshs40 to Kshs50 billion has been collected. That is the amount of money ...
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22 Sep 2021 in Senate:
We had something simple in the formula. We are known for dealing with formulas in this House. That the formula applies. However, if the cost goes above Kshs105 or Kshs110, then the Government subsidizes. It is as simple as that. That can be done because the amount is there.
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22 Sep 2021 in Senate:
We had something simple in the formula. We are known for dealing with formulas in this House. That the formula applies. However, if the cost goes above Kshs105 or Kshs110, then the Government subsidizes. It is as simple as that. That can be done because the amount is there.
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22 Sep 2021 in Senate:
Let them come and explain to us how much they have collected where it is and what it has been used for. I shudder at the thought that difference is, probably, being used for other things which is where the real investigation should be.
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22 Sep 2021 in Senate:
Let them come and explain to us how much they have collected where it is and what it has been used for. I shudder at the thought that difference is, probably, being used for other things which is where the real investigation should be.
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22 Sep 2021 in Senate:
I do not know what else the Committee on Energy should be looking at while the law has provided for that. I can see Sen. Olekina is in agreement. Yes, it is the National Assembly that passed all those taxes, but even if we remove the component of the tax, that Kshs5.40 per litre by now should be able to cushion. We just add one rider to that formula that if and only if the total cost does not go above Kshs105 so that no matter what happens or how the cost of crude oil changes, if it goes above ...
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