KACITA Petitions Parliament over Bad Economic Situation

KACITA Petitions Parliament over Bad Economic Situation
Calls for a Bailout of Businesses Affected by the Lockdown.

The deputy speaker of parliament Thomas Tayebwa has made a clarion call to Kampala City Traders Association (KACITA) to fight sub-standard products from the Market to ensure sanity and sustainable business.

He was receiving a petition from KACITA requesting the government to bailout private businesses that were ravaged by the covid-19 induced lockdown.

Tayebwa made a call while meeting an official Kampala City Traders Association (KACITA) led by their Chairperson Thadeus Nagenda Musoke who petitioned parliament over different challenges affecting the Business Sector. Tayebwa called for self-regulation from Members of KACITA to kick out counterfeit goods from the Market. He urged them to join hands with UNBS.

Tayebwa also urged traders to step up tax compliance in order to support the government to widen the tax base and also address unfair taxation policies. The Deputy Speaker is concerned that Uganda’s Tax to GDP ratio is still very low at 12% compared to other economies.

KACITA cried out to parliament over the unpaid loans accrued during the covid-19 lockdown which have seen banks auctioning properties of several private businessmen. They explained how difficult it has been to access stimulus packages to recover from Covid-19 shocks.

Thadeus Nagenda called for a special fund that is tailor-made to resuscitate private business from covid-19 effects and urged parliament to support the cause.

KACITA has also called for more incentives for the agriculture sector to boost the production of food. Nagenda explained that Uganda is currently importing a lot of agro produce including Rice. Onions, Potatoes among others which has worsened Uganda’s inflation levels.