KAMPALA, UGANDA: President Museveni has assured the country that government is soon finding a solution for the ever-increasing prices of essential commodities, and therefore; Ugandans need not to worry that much.
The prices of essential commodities, such as fuel, cooking oil, and food items, among others, have for the last two months shot up attracting public criticism from politicians, economists, and concerned Ugandans.
However, speaking today at the International Labour Day celebrations at Kololo Grounds, Mr. Museveni described the issue of rising prices as a small one whose solution will soon be found, adding that the situation is artificially propagated in Europe and negotiations are already ongoing with the West to arrest the problem.
“The issue of skyrocketing commodity prices like petrol, fertilizers is man-made by our friends in Europe. For me am not worried about them(increased prices). If we handled corona, what can we not handle,” Museveni said.
“We are trying to talk to them quietly. I’m not worried. We shall find solutions. We are talking quietly to Western Europe and Russia. We shall brief you at the right time. I am not worried because we have a solution,” he added.
Museveni however noted that despite the price of some commodities going up, this shouldn’t be a worry to Ugandans since they can go for their alternatives instead.
“Africans really confuse themselves. If there’s no wheat or bread eat muwogo (cassava). You’re complaining that there’s no bread or wheat, eat muwogo. I don’t eat bread myself.”
The President’s comments however are a contradiction to what Finance PS Ramathan Ggoobi recently said that government can do nothing to control the skyrocketing commodity prices.
Ggoobi while speaking to journalists last month said; “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 further explained that controlling the prices in the country would lead to the creation of a number of unintended practices which is bad for the economy.
“Idi Amin was the first to do it but it backfired. During his time, Uganda was worse off than it is now. If you are not a producer of a good, why do you determine its price? Let businesses compete. If businesses overcharge, customers will go away. Some of those who take this opportunity to overcharge consumers will end up burning their fingers. We are not going to control prices,” Ggoobi said.
Ggoobi also warned that government has to be careful with the measures it undertakes in a bid to solve this situation that he said is only temporary.
“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. The economy is like a human being. It changes every time. Right now the economy is moody but will be happy soon.”
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