Civil society organizations are urging Uganda government not to dare and use National Social Security Fund savings to bail out the indebted investors.
According to Julius Kapwepwe, executive director of Uganda debt network, NSSF money does not belong to government and it belongs to individual workers.
He says it is a good strategy for government to bail out private enterprises as long as it’s being done in systematic and policy guided manner.
He says before think about bailout strategy, the government in first should deal in addressing economical structural challenges such as high interest rate that the private enterprises continue to borrow money at.
Among the tycoons that are indebted includes, Hamis Kigundu, Patrick Bitatule, Ephraim Ntaganda, Elly Kaluhanga and others.
Photo: NTV Uganda.