Members of the public are set to enjoy reduced fuel prices following the move by members of the national assembly to slash taxes charged on the product by half.
National assembly finance and planning committee issued a statement which indicated that members of the parliament had recommended the reduction on development levy on petroleum and diesel products.
Homabay woman representative honourable Gladys Wanga who is the chairperson of the committee, recommend that value added tax charged on petroleum products be reduced from eight percent to four percent.
The committee also propose the state to revoke the petroleum development levy order and provide the amount chargeable to the petroleum development levy per litre of petroleum products.
The national treasury has been directed to prepare supplementary estimates for consideration which shall reflect the reduction in revenue occassioned by the ammendmen.
The committee also sought to reduce value added tax charged on liquefied petroleum gas from sixteen per cent to eight per cent and have the rate recorded in the ammendment.
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