The Central bank is worried for the financial sector and the economy as a whole, because the relief measures were temporary and soon, the borrowers will bear the cost of repaying the loans.
Tumubweine also says the government will have to increase its borrowing from the domestic market because of the big budget financing gap left by the local revenue mobilization and the external sources.
Haruna Busubozi, the NFA Sector Manager for Gulu disclosed to URN on Thursday that they auctioned over 2000 charcoal bags at between Shillings 20,000 and 25,000 and sent the money to the national treasury.
Proscovia Nabukalu one of the farmers says has lost about 60 tons of sugarcane after cutting them down upon receiving the harvesting permit but the company did not send trucks to pick them ending up drying in gardens. Currently each ton of sugarcane fetches about 9, 9000 shillings, down from 160,000 shillings three years ago.