This archive report was first published on 25 July 2019.
Uhuru Assures Manufacturers of 30pc Electricity Cost Reduction ¶
Published on July 25, 2019
President Uhuru Kenyatta has assured manufacturers that the government is in the process of rolling out a 30 percent electricity cost reduction plan to be implemented through a rebate system.
The President made the announcement during the inauguration of the Bidco Industrial Park in Ruiru, Kiambu County, where he also launched the company's beverage and food processing factory.
He noted that the government is working to reduce the cost of manufacturing and enhance the sector's global competitiveness, with the aim of growing the contribution of the manufacturing sector to the national cake from 8.4 to 15 percent.
President Kenyatta emphasized that the expansion of the manufacturing sector holds the key to the creation of jobs for the youth, citing the example of the new factory which has already created 1,000 direct jobs and 5,000 indirect jobs throughout the Bidco distribution chain.
He also expressed satisfaction that through contract farming, Bidco Group has engaged 35,000 farmers across the country to supply them with soya and sunflower produce.
On transport and logistics, the President said the government has put in place measures to reduce the number of regulators operating at the ports of entry and at the inland container depots, resulting in an immediate reduction in the turnaround time for clearance of imported cargo.
He also announced that the extension of the Standard Gauge Railway to Naivasha will be complete in a matter of months, while the revitalisation of the Kisumu Port is firmly on track.
President Kenyatta further assured manufacturers that his administration is addressing the various impediments that hinder the sustained growth of the local manufacturing base, including issues such as counterfeits and illicit goods, dumping, VAT refunds, taxation policy on manufacturing concerns, government pending payments, energy costs, port and transport logistics delays, bureaucratic red tape, corruption, multiplicity of regulatory fees and levies, market access for locally made goods, amongst other concerns.
