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The Standard e-Paper
Kenya's Bold Newspaper
The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
Oil marketing companies have estimated that the new taxes on fuel will cost them Sh2.5 billion every month in working capital.
Taxes are paid as soon as the commodity lands at the sea port, meaning some firms could be pushed to seek bank loans to settle the new obligation. Petroleum Institute of East Africa Chairman Powell Maimba said the Sh6 road maintenance levy that was added to every litre of diesel and petrol will put pressure on the marketers’ working capital.
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