Museveni said unlike other people, he’s optimistic that the economy is going to rebound although it has been affected in some sectors like tourism.
President Yoweri Kaguta Museveni has urged
employers to resist the temptation of laying off workers because of a slump in
their businesses due to the Covid-19 pandemic.
Speaking at State House Entebbe to mark the
International Labour Day, Museveni said some of the companies that are laying
off workers might not even be all that affected by the global pandemic.
business of laying off workers is not a good idea, things are going to improve
tomorrow. Why do you lay off? Because they hear Europe is laying off they’re
also laying off. Why don’t you say that go home on leave and when we resume I
will call you? Why do you use the language of laying off?” Museveni asked.
He added that even workers who are sent home on
half or without pay will understand the situation because even they know that
the companies have not been earning. Museveni’s remarks come at a time
when a number of companies have already written to their employees terminating
their employment or significantly reducing their pay.
Museveni said unlike other people, he’s
optimistic that the economy is going to rebound although it has been affected
in some sectors like tourism. “Tell the workers that if they have been in
tourism and it has been affected, why don’t they venture into another thing?”
Museveni explained that Uganda’s real economy,
which is saddled on food, clothing, shelter, medicine, defense, health,
infrastructure, education and spirituality, is still intact. “If you have these you can survive and even
thrive. If you look at these sectors, there is a lot of money we have
been losing to the outside,” Museveni said.
He called upon the country to wake up and stop
importing things like shoes, bags, animal feeds, pharmaceutical and industrial
sugar among others because they can be made locally. He said his government is going to recapitalize
Uganda Development Bank so that local investors are able to get loans to start
“The other sectors of the economy will come
back after the global problem has ended. I don’t share this pessimism; yes some
sectors have suffered but there others that are doing well,” Museveni said.