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There’s No Hopeful Solution To The Rising Prices Of Commodities

There’s No Hopeful Solution To Rising Prices Of Commodities

President Museveni, unfortunately, provided no long-term solution to the skyrocketing prices of fuel and food in Uganda.

The citizens in the country have been grappling with these prices and said that if any narrow path to salvation comes up they would take it.

Last evening, the president addressed the nation and said government interventions by cutting taxes or subsidies would mislead the people to recklessly consume commodities. He said this would further plunge the economy into more trouble.

“The taxes are there in order to develop. We want to make new roads. We want to make new projects. Now because of that, the projects are stopped and money is spent on eating and driving,” he said.

Furthermore, he explained how such a move would create an artificial comfort for the people. Due to the prices of commodities going up, many people can barely live within their income.

They had even hoped for some reassurance last night from the presidential address. But Museveni instead said it is better to buy commodities expensively than to face a shortage.

Hours before Museveni discouraged tax cuts and subsidies, his Kenyan counterpart Uhuru Kenyatta gave Kenyans a stimulus package where he ordered a price ceiling on retailing of two kilograms of maize flour to the equivalent of Shs 3,200.

He also said the price of cooking gas for a 13kg cylinder be reduced to Shs 96,000 and the 6kg to Sh 44,800.

In Uganda, cooking gas prices are higher by Shs 20,000 on the above products. 
The Kenyan president also continued to give fuel subsidies to Kenyans and maintained a 15 percent reduction in electricity tariffs for households.

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