Cost of power to go up as IMF opposes extension of subsidy

Kenya Power and Lighting Company technicians replace a transformer valued at Sh0.5million that was vandalized by unknown people. [Mose Sammy, Standard]

The International Monetary Fund (IMF) has opposed further extension of the cheap Kenya Power electricity subsidy that cost the taxpayers Sh26 billion over a one-year period since January.

This comes as President William Ruto faces the dilemma of whether to retain the cheap electricity subsidy placed by his predecessor Uhuru Kenyatta that expires at the end of this month.