By Martin Masinde
The move by the government to scrap fuel subsidy that has been cushioning Kenyans from excessive fuel prices since October 2021 portends a gloomy economic future for many.
According to the Chief Executive Officer of HalfMoon Africa Holdings Risk and insurance Consultant, Chomba wa Dau, this is going to force Kenyans dig deeper into their pockets.
“It is on record that the excessive prices trickle down to the ordinary citizens, most of whom lost their jobs, closed down their businesses and are making an attempt at readjusting their lives post-Covid era,” Mr Chomba said.
The eloquent businessman endowed with acumen added, “While there are other global eventualities like the ongoing Ukraine-Russia war that has further escalated the situation, the government must not roll back the gains Kenyans have realized through the subsidy. Higher fuel prices will affect every sector of the economy, from transport to manufacturing to hotel industries and many more.
It is, therefore, my considered opinion that the government, in its wisdom, should find a point of compromise and protect the Kenyan consumers from punitive fuel costs.”