John Mbadi Unveils Eco Levy Comeback, and 48 Other Amendments Rejected in Finance Bill
The National Treasury Cabinet Secretary John Mbadi is preparing a new amendment to the Finance Bill 2024, which might include some elements from the previous version.
In a recent Citizen TV interview, Mbadi revealed that discussions initially proposed 53 amendments, but this number has now been trimmed to 49.
One of the proposed changes is to prevent the importation of the controversial Eco levy, which the government believes is crucial for enhancing the country’s economy.
“They initially proposed 53 amendments, but this has now been reduced to about 49,” Mbadi clarified.
However, he mentioned that certain contentious items like sanitary pads would be excluded from these amendments.
“The Eco levy is intended to target items that harm the environment. We’ll exclude sensitive products like sanitary pads from this measure,” he added.
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Previously, multinational companies strongly opposed a 10 percent levy on all imported goods, arguing it would make their operations unsustainable.
These companies had even threatened to exit the market, leading to a governmental dilemma when the 2023 Finance Bill was also ruled unconstitutional.
After rejecting the 2024 Finance Bill, President Ruto signed the Appropriation Bill 2024 to support the government’s development needs while seeking alternative funding.
The proposed amendments aim to raise Ksh150 billion to cover expenses for teachers, university students, and doctors, and to support development projects without relying on loans.
President William Ruto has cut his budget by Ksh174 billion and is considering a Ksh169 billion loan to address the budgetary shortfall.
John Mbadi Unveils Eco Levy Comeback, and 48 Other Amendments Rejected in Finance Bill
