Africa- Uganda is facing continuous flying in their commodity prices. Due to this, some political leaders have warned of possible hoarding and other illegal economic practices that may plunge the country into crisis.
Alliance made their observation for the National Transformation (ANT) leader ‘Major General Mugisha Muntu’.
In the 1970s, the political crisis led to a dip in the economy and, subsequently, high commodities prices. Hoarding, locally known as magendo, became the order of the day as citizens struggled to access the essential commodities, further plunging the country into a dark period.
Mugisha Muntu shows their fears that the country may be headed back to this as escalating prices for the essential goods drive citizens to do anything to survive.
Muntu stated that “everyone from the country is worried because we are going back to the 70s where people used to wash their clothes with the help of paw leaves. If nothing is done and very quickly, then there’s no guarantee that economic practices like hoarding won’t return as people look to fill the harsh economic environment’s gap.
Some public sections have suggested emergency interventions that include temporary tax immunities and emergency relief aid as this may be a short term solution to the crisis.
But Muntu is doubtful that the ruling NRM can adopt this kind of measures since the national reserves have continuously been drained by electoral seasons like the one in 2021.
“The NRM has created this problem. Whenever we have an election, the national reserves are raided to rent support and buy votes for the NRM. This is not happening for the first time in the country that we are paying a heavy price for choosing the wrong leader, said Muntu.
For the former woman member of parliament Ngora district and party mobilizer Alice Alaso, the crisis has been compounded by natural corruption that has frustrated all production routes. Until this is addressed, the country is headed for the worst.
To reduce public expenditure and wastage, through the ministry of public service, the government has proposed phasing out of purchasing vehicles for public servants but instead offering them loans to buy private cars.
After that, Muntu says, the proposal is due for a long time, and it is overtaken by events to heal the current crisis.
