The Independent Uganda: You get the Truth we Pay the Price
Kampala, Uganda | THE INDEPENDENT | Kenyans will pay more for paints, resins and shoe polish on increased cost of kerosene, putting pressure on housing and furniture costs.
The country’s Business Daily reported on Oct. 11 that the imposition of 8% value added tax (VAT) and Sh18 adulteration fee per litre of kerosene from last month has seen retail price of paraffin jump to Kshs108.41, up from Kshs 4.95.
Crown Paints Kenya said the increased prices has led to a 10 % rise on their production costs and that it plans to increase paint prices by at least 8%. Paint makers are the biggest consumers of kerosene, which is their key raw material.
“It has very serious impact on our operations and we have no other option but to increase our prices to consumers,” Crown Paints CEO Rakesh Rao said.
Rao said the products to be affected include; gloss paints, roof paints, varnishes and thinner, which is used to clean up surfaces after using oil-based paints. This new development is likely to affect investors such as housing developers, furniture makers and Jua Kali artisans who make equipment from scrap metal.
