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Private Sector, CSOs Hail Gov’t for Tax Relief, Recapitalizing UDB :: Uganda Radionetwork
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Private Sector, CSOs Hail Gov’t for Tax Relief, Recapitalizing UDB

The Private Sector Foundation (PSF) and Civil Society Organisations (CSOs) have hailed Government for passing a realistic budget saying it reflects Ugandas current situation and looks at reviving vital sectors.
UDB is expected to support businesses with low interest rates compared to what commercial banks charge

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The Private Sector Foundation and Civil Society Organisations have welcomed the budget saying it reflects Uganda’s current situation and looks at reviving vital sectors.

On Thursday, the Minister for Finance, Matia Kasaija passed 45 trillion shillings budget for the 2020/2012 financial year.

Dr Elly Karuhanga, the chairperson Private Sector Foundation, says that the government adopted most of the recommendations from experts including capitalizing the Uganda Development Bank. He, however, says that implementation could be a challenge.

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Julius Mukunda, the Executive Director Civil Society Budget Advocacy Group (CSBAG) says that he is happy that the budget highlights plans of supporting businesses that were affected by COVID-19.

He also says that the recapitalization of UDB will go a long way in helping entrepreneurs to access cheap credit for their businesses.

Julius Kapwepwe, the Executive Director Uganda Debt Network says the budget is very indicative of the Presidents wish to see the country’s economy grow.

He, however, says that the Government should have invested more in healthcare. 

Kapwepwe also says that although President capitalizes UDB for major players, the Government needed to capitalize SACCOs and support institutions like the Microfinance support centre.

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