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Price Control Act for essential commodities
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VituVingiSana
#41 Posted : Tuesday, July 13, 2010 7:11:18 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,098
Location: Nairobi
Who was it saying that all was GREAT in INDIA coz of price controls on fuel???

Well... read this! http://www.nytimes.com/2...world/asia/06india.html Some simple research (FREE using Google) before payukaring ovyo ovyo...

As it moved to eliminate subsidies on petroleum products, the Congress government said late last month that it would raise the price of gasoline by 3.5 rupees a liter, or almost 30 cents a gallon. Diesel and kerosene prices are also being increased.

India’s state-run fuel companies will lose more than $11 billion this fiscal year, the Ministry of Petroleum and Natural Gas said last month

$11 Billion... LOSS...And that is just this fiscal year... What of last year?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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VituVingiSana
#42 Posted : Tuesday, July 13, 2010 7:14:06 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,098
Location: Nairobi
KulaRaha wrote:

And dont be scared of multinationals leaving, India has all local oil cos working under strict controls and they are all profitable.

BULLSHIT of the stinkiest kind...

http://www.nytimes.com/2...world/asia/06india.html

India’s state-run fuel companies will lose more than $11 billion this fiscal year, the Ministry of Petroleum and Natural Gas said last month

$11 Billion is the loss of India's STATE-RUN firms... And who pays for that??? The TAXPAYER...

$11 Billion x 82 = KES 902,000,000,000 [902 Billion]

The Congress government is paring market controls that keep prices of some goods artificially low in India.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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mukiha
#43 Posted : Tuesday, July 13, 2010 9:54:10 AM
Rank: Elder


Joined: 6/27/2008
Posts: 4,114
youcan'tstopusnow wrote:
mukiha wrote:
2012 wrote:
Kibaki is an economist and I'll be shocked if he assents.

Yeah! And you forget that he was the one who perfected the art of price controls when he was Finance Minister in the 1970s. His budgets (Finance Bills) were virtually a list of prices of various commodities.

This lead Kenyans to believe that budgets are are the days when new prices are announced. Every time prices were changed outside the budget day, we called it a "mini-budget".

In a bid to reduce the practice of hoarding by traders in the run-up to budget day, Saitoti slowly moved the price announcements away from the budget day. People complained because he had many "mini-budgets"!


Kibaki only did this because he was a wimp (still is,by the way) and followed everything 'Nyayo' said. I don't believe it was his call.
Kibaki (like any person with a hint of basic economics) knows the adverse effects of price controls.
Now he's the one calling the shots. He'll do what he wants and no one will tell him anything (as the swearing in at night shows)
And his 'buddies' won't let him sign this thing

Some history will help here: Kibaki was minister for finance from 1969 to 1982. He served for in that ministry much longer under Kenyatta [9years] than under Moi [only 4 years].

During that 13-year tenure, price controls were the main theme of budget speeches!

But, all the same, people do change and 28years since 1982 are enough time to change anyone.... look what happened to Mandela after 28 years...
Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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The optimist
#44 Posted : Sunday, August 01, 2010 1:27:10 PM
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Joined: 6/14/2010
Posts: 521
Location: Nairobi
Should we still be fidgeting over the price control of essential commodities or was it thrown to the dust bin by baba smile
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ProverB
#45 Posted : Wednesday, September 01, 2010 7:58:07 PM
Rank: Veteran


Joined: 3/12/2010
Posts: 1,199
Location: Eastlander
2012 wrote:
Kibaki is an economist and I'll be shocked if he assents.


seems u weren't wrong..

http://www.nation.co.ke/...6/-/758qkg/-/index.html

Kibaki declines to sign Bill to control prices

so much for all that debate!
..Let your light so shine before men, that they may see your good works, and glorify your Father which is in heaven...Matt5:16
- 1769 Oxford King James Bible 'Authorized Version
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Much Know
#46 Posted : Wednesday, September 01, 2010 8:05:49 PM
Rank: Elder


Joined: 12/6/2008
Posts: 3,548
Can't fault Kibaki there, his economics ideology is still on point never mind the 'populists' and their nonesensical ideas of 'how can a poor person...bla bla bla bla' just to seduce the poor(crowds). Good example, poor man rich man maize meal failure.
A New Kenya
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kadonye
#47 Posted : Wednesday, September 01, 2010 8:20:44 PM
Rank: Elder


Joined: 5/30/2009
Posts: 1,390
Applause Applause Applause

I thank God for Wazua

For I first celebrated the bill

Then you gave me free lessons on the effects of such a bill on the economy and availability of commodities

But poor Kibaki...His already troubled legacy is now in for a further beating in the eyes of the public

The Populist Man will now whine that he wasn't consulted.And that if he was president,we'd have it different
What a wicked man I am!The things I want to do,I don't do.The things I don't want to do I find myself doing
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kyt
#48 Posted : Thursday, September 02, 2010 10:36:42 AM
Rank: Elder


Joined: 11/7/2007
Posts: 2,182
@ kadonye, keep ur politics(they are cheap by the way) out of this. No one will whine, that we can bet.
LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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amga
#49 Posted : Tuesday, September 07, 2010 7:12:58 PM
Rank: Member


Joined: 8/16/2010
Posts: 149
Location: hapa Kenya
my take would be to introduce anti trust laws such as the one the EU used to hammer on MSN this may assist having some players make super profits and shield us from killing the entrepreneurship spirit
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vin
#50 Posted : Friday, September 17, 2010 7:49:09 PM
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Joined: 1/22/2007
Posts: 336
Economics my foot.I think petroleum products have to be regulated.The dealers wake up one morning and decide that sisi wote shilingi tatu juu,what will the gava do? Unless and until when the regulation is put in place ,ngata tuta nunua 150 per litre very soon.
Advice is like snow.The softer it lands the harder is sticks.
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Rahatupu
#51 Posted : Monday, October 04, 2010 1:35:38 PM
Rank: Veteran


Joined: 12/4/2009
Posts: 1,982
Location: matano manne
@Vini, I feel you. petroleum products in this country are more than essential products. Prices of these products cause inflation like drought, yet the gava spends billions mitigating drought and nothing in regulating these thugs. I bet we have our priorities wrong, the regulation of hewa-time has been such a populist move, yet the gova stands to lose billions because of the subsquent Bharti triggered wars. IMO:

The gova has the capacity to regulate oil prices which have debilitating effects on the entire economy. Then talk of Vision blah blah kitu gani?
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