Museveni to address the Nation on rising commodity prices on Sunday

BY: Eyalama In News, Politics On

President Museveni is expected to address the nation on the high commodity prices on Sunday. Linda Nabusayi, the Senior Presidential Press Secretary, said the head of state’s address will be at 8 pm.

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

A number of people have been longing for this to at least know a way forward. Prices of commodities have shot high that some people can’t afford them anymore.

For commodities that have alternatives, some have resorted to such. A bar of soap is currently 10,000 in some places and a litre of cooking oil is above 9,000. Many have attached the increase in prices of these commodities to the Russia-Ukraine war.

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Meanwhile, Ramathan Ggoobi, the Ministry of Finance Permanent Secretary, recently said government will not do anything about the skyrocketing commodity prices.

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. The mafia can organize and take all money for subsidies,” Ggoobi said.

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However, now that President Museveni is going to talk about it, will the government do something about it? The prices of basic commodities is nowhere close to the earnings of most Ugandans which has forced many to forego certain things.

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