|17th May 2013 Press Brief|
Traders oppose pre- export verification charges. City traders have revolted against paying inspection fees to government service providers under the pre export verification scheme, citing problems in its implementation scheme. The scheme is meant to fight the entry of counterfeit, fake and substandard products into the country by traders importing merchandise from an approved list of manufacturers.
Slight drop in fuel prices attributed to weak dollar. Fuel importers have tagged the slight drop in fuel prices by an average of sh100 to the weakening dollar. With the price of petrol going for between 3700-3750, and diesel at 3300-3350, the importer project that the prices are likely to remain stable even after the dollar gains strength because the Mombasa route is fully operational.
Low demand for food pushes inflation down. Stability in the price of manufactured goods, especially sugar and the decline in the meal charges in restaurants has helped Uganda to register a decline in inflation rate. The decline means the public spent less on manufactured goods in April 2013 compared to April 2012.