Museveni promises airlines, says Uganda future is bright


President Yoweri Museveni on Sunday used the 54th Independence Day fete to boast of the many achievements his National Resistance Movement (NRM).

In his usual rhetorics, the president said his government brought peace, development in the different sectors including roads and housing, among others, things which he said the past governments failed at.

However, in his speech, Museveni who has been in power for the last 30 years since 1986 and whose government witnessed the failure of of the national airline- the Uganda airline said his government is to revive Uganda’s would be only air transport.

Among the things his government plans to embark on to foster developments,the president said is the issue of the airline. “We allowed Uganda Airlines to die because it was making losses and, at that time, Ugandans were not travelling as much as today,” he said.

Apparently, Ugandans spend US$420 million per year on travel.

“Therefore, the NRM government has decided to start a National Airline to stop the outflow of this money and to end travel inconveniences to Ugandans. We are now finalizing the modalities.

Therefore, my dear Ugandans, I can confidently tell you that the future is bright,” he added.

According to him, the other effort of his government has been in the area of providing cheap finance for the manufacturers.

“We are going to give capital to Uganda Development Bank (UDB) to the tune of Shs50 billion this financial year. Then, gradually, it will be increased up to 500 billion shillings over the medium term. They can, then, lend that money to the manufacturers at the interest rate of 15%,” he said.

Theinsider Uganda is a news publishing website. We are located at Suite G25 Metroplex Shopping mall, Naalya Kampala Uganda.
Enter ad code here

Copyright © 2016 Theinsider Uganda. Unearthing the truth

To Top