The filing this week comes after the Energy Ministry advanced a government-to-government arrangement to take over fuel imports from private companies. That would effectively lock out non-public suppliers such as Oryx Energies and Vivo Energy.
The plan “fails the principal test of equity, equality,” according to court documents filed by Ndegwa & Ndegwa Advocates on behalf of the petitioners. They asked the court to find the government’s plan unconstitutional and in violation of its procurement rules. If enacted, the policy shift envisages terms allowing the government to make payments after at least six months instead of within a week currently, according to Energy Secretary Davis Chirchir. The government designed the plan to help ease pressure on Kenya’s foreign-exchange reserves, which have fallen to an equivalent of less than four months of import cover.Under the plan, Kenya has sought a $4.
The move “amounts to unfair practice as an unconscionable representation that is excessively one sided” and favors the supplier rather than the consumer, the petitioners argued. The government should have negotiated how to stabilize its dollar reserves “without having to frustrate” oil-marketing companies and “technically kicking them out of business,” according to the filings.
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Business Maverick: Asian stocks tumble on heightened rate-hike fears: markets wrapA gauge of Asian equities dropped more than 1% on Wednesday, led by heavy declines in technology stocks, after hawkish rhetoric from Federal Reserve chair Jerome Powell hurt appetite for risk taking.
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Business Maverick: Biden administration backs new TikTok bill, wants swift passageThe White House endorsed a bipartisan bill that could give the president authority to ban or force a sale of TikTok, support that could hasten passage and break a deadlock over how to address privacy concerns around the popular Chinese-owned app. Well if you want the Chinese communist party knowing everything about you and having unprecedented power to influence your society thru social engineering, then by all means, carry on! If not, ban the motherfucker now!
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