Kenya Pipeline Company (KPC) intends to hand over Ksh5 billion as dividend for the fiscal year ending June 2023, in alignment with President William Ruto’s directive for state corporations to remit 80% of their profits after tax to the Treasury, signaling the company’s commitment to bolstering government revenues.

KPC reported a notable surge in profit before tax, reaching Ksh7.5 billion, attributed to increased sales amidst a weakening shilling against major currencies, showcasing the company’s financial strength and resilience.

The Head of State’s decree includes a stern warning of potential closure for loss-making government institutions within three years, highlighting government’s commitment to achieving a balanced budget and promoting financial discipline.

Throughput along KPC’s pipelines experienced a six percent increase, with sales reaching Ksh32.5 billion, attributed to heightened throughput and rising demand for fuel domestically and in transit markets such as Uganda, Rwanda, South Sudan, and the DR Congo.

KPC surpassed the Treasury’s revenue goal of Ksh30.7 billion for the same period, indicating the company’s operational efficiency and ability to meet government targets, further highlighting its contribution to the national economy.