Kenyan Lawmaker Proposes Price Controls for Essential Goods
(Bloomberg) -- A Kenyan lawmaker proposed legislation to reinstate price controls for some staple foods and pharmaceutical products for the nation that’s going through a cost-of-living crisis.
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The suggested amendments come against a background of near-weekly anti-government protests that have forced President William Ruto to abandon plans for new taxes and rearrange his cabinet.
“This bill seeks to amend the Price Control (Essential Goods) Act, 2011 to regulate the prices of essential commodities in order to secure their availability at reasonable prices for all Kenyans especially the low-income earners,” according to the draft presented by Senator Tabitha Mutinda.
If passed, the law will require the National Treasury to fix the minimum and maximum retail and wholesale prices for essentials including corn, wheat, rice, cooking fat and sugar, as well as some prescription drugs.
Kenyans have been picketing since mid-June, initially against new taxes introduced to shore up domestic income in line with an International Monetary Fund program. The unrest has caused at least 61 deaths.
Kenya already controls fuel prices with monthly reviews for the pump prices of gasoline, diesel and kerosene.
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