Ramadhan Ggoobi; Our Major Goal Is To Increase Household Incomes

Hope For Comodity Prices To Go Down In July – Ramadhan Ggoobi

Posted by: Kyeyune Andrew Jonathan in Uganda news June 4, 2022

Ramadhan Ggoobi, the permanent secretary in the Ministry of Finance, Planning and Economic Development has said there is hope for prices to go down. He assured Ugandans that by July, commodities like soap and cooking oil are likely to reduce.

He is currently in Sharm El Sheik, Egypt to attend the 2022 Islamic Development Bank Group annual meeting which Uganda has been part of since 1974.

From his involvement with the key economic players on the continent, Ggoobi said he is confident prices of some commodities will soon relax, hopefully by July this year.

“I have got assurance from Dr. Sri Mulyani Indrawati, Finance Minister of Indonesia that they are going to lift the ban on export of crude palm oil next month (July). Prices of soap and cooking oil are likely to reduce,” he said.

Ggoobi explained that Indonesia accounts for 59% of global palm oil exports.

He said the country banned export of crude palm oil to cater for their own rising domestic prices, a problem that has since been solved and are now ready to resume export.

The bank is now focused on infrastructure and sustainable human development in the next four years and Ramadhan Ggoobi thanked them for this.

He also requested the bank to renew the member country partnership with Uganda and support the private sector to access affordable financing.

Women started rioting

In similar story recently published by NEWSLEXPOINT.com, police arrested Women activists over rioting in objection of high commodity prices. These women were led by Doreen Nyanjura, the deputy Lord Mayor.

They were around Mulago-Wandegeya expressing their displeasure at the rising commodity prices and continued detention of Kizza Besigye. Last week, Police arrested Dr. Kizza Besigye for protesting over the same matter but up until now he is still in Jail.

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