The government through the Ministry of Finance, Planning, and Economic Development has now ceded ground to demands by local manufacturers to chant the way forward in light of the current state of the economy. “I have now instituted quarterly meetings with the private sector at our own technical level to ensure that we deal with those issues so that we are well coordinated like we did on the budget. So, yes I have heard and then I said okay if that is the case then maybe that was improper but now we have instituted a Tele-technical working group.” Said the Secretary to the Treasury, Keith Muhakanizi.

The Uganda Manufacturers’ Association UMA consistently argued that the costly electricity supply, stiff competition from imports and cost of credit combined kept the business slippery. “We want to make our manufacturers stronger enough and capable enough to compete with whatever it is that comes up. And that why it is important for us to really make that the power elements and utilities go down because that’s what drives our industries.” Said the Chair Manufacturers’ Association, Barbara Mulwana.

These discussions around the state of the economy gained further attraction even when the shilling continued to lose ground a fresh expense on the cost of inputs. “Maybe because of the sensitivity of the elections the other side, I don’t know, and we need to check. What I can only confirm is that the Bank of Uganda has enough reserves to ensure that the exchange rate is smooth so there is no reason why you should panic.” Said the Secretary to the Treasury.