Ugandan President Yoweri Museveni has demanded for answers on the establishment of the so-called “Sugar Bond” which has affected the market for Uganda’s locally manufactured sugar in the regional market.
Museveni in a letter dated August 19 tasks Prime Minister, Dr Ruhakana Rugunda to explain how Brazilian sugar made its way in the market. Museveni in this letter stated that the presence of the sugar bond in the country made other East African countries to loose trust in Uganda and its capacity to supply enough sugar to the region.
“Who allowed this sugar bond to be established? I really demand to know. Was a Paper brought to Cabinet to allow a self-undermining policy of being the promoters of imported sugar while our own sugar industry was recovering”?
In the letter the Ugandan president also asks why Uganda which is the only East African country that has surplus sugar would import subsidized sugar from Brazil.
President Museveni asked the Prime minister Rugunda if the cabinet had approved undermining of Ugandan sugar and selling imported sugar yet the sugar industry was on the verge of recovery. He also demanded to know who was behind the ‘sugar bond’
He ordered for the sugar bond to be closed with immediate effect.
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