Matatu Association to increase fare by 30% from tomorrow
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Matatu Owners Association to adjust fare by 30 per cent following an increase in fuel prices due to 16 percent VAT
Matatu Owners Association to adjust fare by 30 per cent following an increase in fuel prices due to 16 percent VAT.
Public Service Vehicles (PSV) are set to increase their daily fares by 30 percent from tomorrow following the increase in fuel prices last week by the Energy and Petroleum Regulatory Authority (EPRA).
According to the Matatu Owners Association chairman Albert Karakacha, the adjustment of fares will cushion the investors in the transport sector under the organisation.
Karagacha stated that they are engaging Government agencies and fuel supplies in a bid to find ways of cushioning the public service operators and commuters.
Karkacha also argued that prices for vehicle spare parts and tyres have also gone up.
“We announce with regret that due to fuel prices going up, the sharp increase in fuel cost together with an increase on cost of spare parts, loan interest among others,” he said during a press address on Tuesday.
“After careful considerations, MOA has determined that fare adjustment is necessary. The decision to effect this hike was not taken lightly however it’s essential to strike the balance.”
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Fuel prices shot up after the Energy and Petroleum Authority (EPRA) reviewed the price of super petrol, diesel and kerosene by a whopping Ksh.13.49, Ksh.12.39 and Ksh.11.96 respectively following a VAT increment on fuel from 8% to 16%.
The increment was included in the contentious Finance Act 2023, which has been assented into law by President William Ruto.
The increment has seen super petrol selling at Ksh.195.53 and diesel and kerosene selling at Ksh.179.67 and Ksh.173.44 respectively.
The increase in fuel prices is expected to have a significant impact on the cost of living in the country with the rate of inflation expected to go up as a result of this.
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