Museveni to address the nation on rising commodity prices this Sunday

According to Linda Nabusayi, the Senior Presidential Press Secretary, Museveni’s address will be at 8pm.

“President Museveni will this Sunday May 22, 2022 at 8:00 pm address the nation to update Ugandans on the current economic situation. The address will be broadcast live from Nakasero State Lodge,” Nabusayi revealed.

President Museveni Pulse

Commodity prices have shot through the rafters of recent and, so far, the Uganda government has not offered any concrete solutions beyond attributing their rise to the Russia-Ukraine war and the aftereffects of the Covid-19 pandemic.

A cocktail of responses

Opposition honcho Dr.Kizza Besigye was last week arrested and detained at his home in Kasangati by police as he attempted to lead a protest against what he deems to be the government’s indifference to the plight of Ugandans in such trying economic times.

Kizza Besigye Pulse

The Ministry of Finance Permanent Secretary; Ramathan Ggoobi, recently seemed to imply that the government will simply wait for this crisis to blow over without offering any solutions Ugandans can sink their teeth into.

“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 an already ailing economy.

The Permanent Secretary of the Ministry of Finance, Ramathan Ggoobi, Pulse

“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.”

Most Ugandans are waiting with bated breath to hear what the president will say this Sunday.