The government will revoke trading licenses of business entities that are hoarding essential commodities on the market.
This was revealed by Matia Kasaija, the Minister of Finance, Planning, and Economic Development while addressing members of the Uganda Parliamentary Press Association during a National Budget Conference at Hotel Africana last evening.
Kasaija pointed out that the government is concerned about the illegal purchase and storage of essential products such as sugar, soap, cooking oil, and posho among others with an aim of creating scarcity on the market to fetch high prices. Min Kasaija on Hoarding 1….
Kasaija noted that it would not be a viable policy to ban the exportation of agricultural products because it would lead to a loss of revenue for the Government and also encourage smuggling. Min Kasaija adds 2….
However, he reiterated that the Government is aware of the increasing commodity prices across the country which has deprived a section of the population of essential commodities, attributing it to hoarding which he said the Government has started to investigate. END.