By Watchdog reporter


President Museveni has clarified that three groups of people will be bailed out by government.

The three groups include;

1. Those who were doing business with South Sudan government but never got paid because of the turmoil there. Their businesses are sinking.

In the long run and once stability returns, the government will be able to square out things with South Sudan government.

2. Those who supplied goods and services to government but haven’t been paid. Government owes them money and is under obligation to pay. This is the group the Prime Minister Ruhakana Rugunda spoke about this group recently. It’s the group the Treasury P.S. has asked accounting officers to document for debt clearance.

3. This last group is the group of the wealthy and business leaders. This group largely borrowed money from banks for their businesses. Most have perhaps failed to service their loans. They say banks are taking their property and their businesses collapsing. Several accuse banks of breaching terms of the loans.

Apparently, government is NOT offering money but government is offering to be umpires of sorts between them and the banks. Try to see if they can still engage with banks without the dire consequences of their businesses collapsing. But government is offering no financial reprieve for these.

Comments