Museveni to address country on rising commodity prices on Sunday
President Museveni will on Sunday evening address the nation on the economic situation in the country.
According to Linda Nabusayi, the Senior Presidential Press Secretary, the head of state’s address will be at 8pm.
Keep Reading
“President Museveni will this Sunday May 22, 2022 at http://8.pm address the nation to update Ugandans on the current economic situation. The address will be broadcast live from Nakasero State Lodge,”Nabusayi said on Thursday morning.
A number of commodities have seen their prices increase at a terrific speed , a situation which has mainly been attributed to the Russia-Ukraine war that saw fuel and gas prices go up.
This has since triggered the rise in prices of many other commodities.
Members of the public have on several occasions asked government to intervene in the rising commodity but their calls have fell on deaf ears.
Forum for Democratic Change(FDC)’s Dr.Kizza Besigye was last week arrested and detained at his own home in Kasangati by police as he started a procession as one of the ways to awaken the public to the dire situation but also asking government to offer a solution to the rising commodity prices.
The Ministry of Finance Permanent Secretary; Ramathan Ggoobi recently said government will not do anything to cushion Ugandans over the skyrocketing commodity prices.
“We are not going to subsidise anything. Subsidies don’t work and that is bad economics. Those who have done it have faced problems. Subsidies tend to take money to wrong people and not those you intend. Mafia can organize and take all money for subsidies,”Ggoobi said.
He explained that controlling prices can lead to a number of unwanted practices which might have dire consequences for the economy.
“We aren’t going to control prices. That is bad economics. When you control prices, you create so many unintended consequences. We have to be careful with the medicine we give. You can’t treat cancer with paracetamol. We have to undergo process of treating cancer.”
