"These robbers are not ashamed to rap the government for failure to prevail over the skyrocketing prices yet they are the beneficiaries of the current economic situation” the president was quoted saying.
President Yoweri Museveni paid an impromptu visit to Kakira Sugar, amid rising concerns about the Sugar price hikes in Uganda.
The president met MD Mayur Madhavani’s Company Secretary SK Iyengar, and members of Boars of Directors of the Madhavani group of companies, who assured him that the current sugar prices have been compounded by the traders and not manufactures.
An official who attended the meeting, told Uganda Radio Network that Madhvani’s company secretary explained to the president the price of sugar at the manufacturing point has remained at 2,200 shillings per kilogram. They noted that traders would still be able to get profits if they sold sugar at 3,000 shillings per kilograms.
The cost of sugar has shot up significantly over the past one week, from 3,000 shillings to 7,000 shillings.
Mayur asked the president to intervene and control the situation, warning that fears were rife that the skyrocketing sugar prices could spark off retaliatory strikes from the consumers.
He openly told the president that he was worried about a possible attack on either the factory or the sugarcane plantations by aggrieved consumers.
President Museveni also visited Lugazi based Sugar Corporation of Uganda Ltd (SCOUL) owned by the Methas and promised to handle the sitiuation.
“These robbers are not ashamed to rap the government for failure to prevail over the skyrocketing prices yet they are the beneficiaries of the current economic situation” the president was quoted saying.
The President’s visit to Kakira was also attended by the lands minister Daudi Migereko, the minister for the presidency, Winifred Kabakumba Matsiko, the Jinja Deputy RDC, Judith Rwakishumba and Jinja NRM District vice chairperson Majid Dhikusooka.
kakira sugar works