VIDEO: Uhuru between a rock and a hard place over external debts - Kenya Satellite News Network
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VIDEO: Uhuru between a rock and a hard place over external debts

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President Uhuru Kenyatta’s low key return to the country on Sunday night after attending this year’s Forum on China-Africa Co-operation (FOCAC) in Beijing is the classic tale of a leader between a rock and a hard place.

The president’s return comes at a time when the political class and the media have already set the agenda; the issue being the rise in fuel prices.

As it stands, all Kenyans’ eyes are trained on him to see what course of action he takes amid public outrage over the matter.

He has two options; to succumb to public pressure and sign the Bill into law or send back the Bill to Parliament with recommendations.

It is a tough balancing act for the president who has in the recent past been meeting world leaders for bilateral talks and drumming up support for his Big Four Agenda.

If he signs the Bill, he risks sending the country into the bad books of the International Monetary Fund (IMF), which has put into question the country’s credit worthiness due to the ballooning public debt which stands at a mind-ruffling Ksh5.1 trillion.

Watch as Citizen TV explains the debts in plain langauge:

In 2015, the government entered an agreement with the International Monetary Fund (IMF) to raise funds internally after the institution raised the red flag over the government’s borrowing appetite and budget deficits. The agreement allowed Kenya access to a standby credit facility which the country can draw in the event of financial distress.

READ ALSO:   Magufuli beats Kenyatta to bag the prestigious Mandela Peace Prize

That facility is yet to be renewed and the decision depends of generating revenue from internal taxes and repealing the cap on bank interest rates, which MPs also shot down. MPs want the 16% fuel tax VAT put on hold for a further two years.

The other option isn’t pretty either; if he sends it back to Parliament, he will be inviting the public’s fury which until now, has been directed at Treasury Cabinet Secretary Henry Rotich.

The issue has united Kenyans across the political divide, a scenario that down not look pretty for the Jubilee administration.

The government has been under immense pressure to raise revenue to finance the Ksh2.7 trillion budget amid a shortfall of Ksh530 billion in collections by the taxman.

The government is seeking to raise Ksh 71 billion from taxing the petroleum products, attempts which have been termed as insensitive to the common man by politicians and experts.

On September 6, the High Court sitting in Bungoma suspended the tax pending presidential assent or sending back of the bill to parliament. Orders which the government has defied. “We have not been served with the order. If we are served we shall comply but the order is mainly on the National Treasury,” said Energy Regulatory Commission (ERC) Director General Pavel Omieke in a statement on September 10.

READ ALSO:   UHURU'S BEAST: Kenyatta now has two identical cars, just like the US President [VIDEO]

A crisis meeting between Rotich and the parliamentary leadership over the fuel tax on September 6 ended without any resolutions.

Businesstoday.co.ke

 

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DANGEROUS: Pilot caught sleeping in the cockpit while flying 747 passenger jet [VIDEO]

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A senior chief pilot “with nearly 20 years flying experience” has been filmed sleeping in the cockpit of his passenger jet.

The man was in the China Airlines 747 while his co-pilot recorded him snoozing on the job.The embarrassing video surfaced just days after the Chinese airlines pilots ended an unprecedented seven-day strike over issues such as pilot fatigue and long working hours.

Taiwan’s flag carrier, which has its headquarters in Taoyuan International Airport, has responded to the incident saying the clip was filmed before the most recent strikes took place.The video shows the highly experienced chief officer with his eyes closed and his head down as he sits in the main seat of the cockpit.

While he is yet to be named, he is reportedly the airline’s most senior Boeing 747 pilot, with 20 years of experience flying mainly Tokyo, Okinawa, Seoul and Hong Kong routes.The chief pilot is also said to be an instructor in charge of simulations at the China Airlines Flight Training Centre.

Facing accusations including ignoring flight safety procedures, the pilot is said to have “received adequate punishment”, a statement by China Airlines said.The airline added that the video was filmed prior to the February strikes which affected roughly 20,000 passengers booked on about 100 flights.China Airlines has also suggested the co-pilot who filmed and released the video may also be punished for choosing to record the clip instead of wake his senior officer up.

READ ALSO:   Magufuli beats Kenyatta to bag the prestigious Mandela Peace Prize

-standardmedia.co.ke

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Kenyan accountant extradited to US over Sh3.6b fraud

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A Kenyan man accused of stealing Sh3.6 billion ($36 million) from an American media technology services company has been extradited from his South American hideout.

Edward Martin Karuku, alias Paul McDaniel 42, was a former accounting manager who has been on the run since 2017.

He was returned to California from Costa Rica on Thursday to face charges of wire fraud.

According to NBC, the accused fled to Costa Rica in early 2017. He is accused of embezzling funds from Hypermedia Systems Inc., a media-technology services firm, prosecutors said.

Prosecutors said that as part of his job, McDaniel was charged with making payments to Hypermedia vendors.

According to the indictment, McDaniel formed a corporation using a name similar to one of Hypermedia’s vendors, then directed more than Sh3.6 billion in funds to the shell company and created bogus invoices on letterhead of actual Hypermedia vendors to justify the expenses.

McDaniel allegedly used the stolen funds to pay off Sh2.3 billion in credit card debt, and transferred Sh800 million to his personal bank accounts.

He was arrested in Costa Rica in 2017 and remained in custody there pending extradition to Los Angeles.

He is facing 10 counts of wire fraud, each of which carries up to 20 years in federal prison.

READ ALSO:   PHOTO: Raila celebrates his 74th birthday with President Uhuru

Source: NBC and Nairobi News

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VIDEO: Uhuru loses temper, threatens to deal with CS Macharia

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BY OLIVIA MUNGWANA

A video has emerged in which an irate President Uhuru Kenyatta tells off  Transport CS James Wainaina Macharia for not living up to expectation .

Kenyatta made a surprise visit to a Chinese construction site where he found the construction work had stalled and started to enquire the reason behind it.

He also enquired on how they had been allocated funds and listened as the CS and the Chinese contractor each gave a different figure, much to the President’s dismay.

The CS tried to interject the President to save face for the Chinese but a seemingly infuriated Uhuru could hear none of it.

In their defense, the officials from the Chinese company insinuated that there was shortage of funds and that the project would be fast-tracked if they received enough monies.

 

READ ALSO:   Magufuli beats Kenyatta to bag the prestigious Mandela Peace Prize
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