[Courtesy]There are disturbing reports that some traders are arbitrarily increasing prices in the guise of new tax measures. The price of cooking gas, for instance, has shot up and traders are blaming it on the introduction of 16 per cent VAT. A religious adherence to the market economy is what makes Kenya a hotbed of entrepreneurship. Our economy is vibrant because everyone is free to do business as long as it is within the law. While ours is a free market, with competition expected to push prices down towards an equilibrium, that does not always happen.

Source: Standard Digital July 08, 2021 18:33 UTC