The Cabinet Secretaries for Trade and Investment CS Moses Kuria has given a glimpse into increased cost of living and inflation in the country.
While appearing before the Senate to answer questions regarding his Ministry to address the cost of living, the CS says, the cabinet approved a framework to position the Kenya National Trading Corporation (KNTC) as the anchor of state initiatives to create a price stabilizer for essential household food items.
The CS says KNTC will leverage on it’s infrastructure and capacity to help stabilize prices of all essential items in instances where price swings of essential items are abnormal and against the public interest.
“This Government campaigned on a platform of bottom up and has started growing oil producing crops in different Counties like Homa Bay county and this will significantly reduce the cost of oil.” Said Kuria.
Kuria stated that KNTC did not import any maize, “we gave the Agriculture Ministry authority to import the deficit in maize.
“We are monitoring the situation and once the supply stabilizes,the imports will be locked to protect our local farmers.”
On the source of suppliers, Kuria says the followed the law.
“We prequalify suppliers as per the law, for all commodities. We didn’t single source any supplier, all traders have their bidding.”
On moves to spur palm, sunflower growth, the CS says, “I have negotiated a tax incentive with the Treasury to motivate our farmers to grow palm oil, sunflower and make this country self sufficient.”
He laid blame oil cartels saying they have held the country hostage.
“We continue to lag behind our neighbors because we have been held hostage by the oil cartels, we have since decided to hold the bull by its horns.”
