Dealers find Solutions to rising prices on construction materials

In Summary
  • The Rising prices on building materials affecting the construction industry.
  • A decision has been taken that all manufacturer's put limits to rising production costs which are responsible for rising prices.

Uganda Manufacturers Association has assured the public that they are working under all possible circumstances to ensure controls against sky-rocketing prices on building materials, especially steel products.

This was disclosed by Daniel Birungi the executive director of the Uganda Manufacturers Association at the ongoing three-day dealer's conference in Kampala to discuss the threats leading to the collapse and failure of many businesses.

This follows the just concluded deliberations where business owners were encouraged to create administrative structures that ensure that they comply with tax obligations in order to shelter their businesses from collapse.

In the conference, dealers were empowered to emphasize proper management of cash flows and tax compliance to avoid disruptions to their businesses.

According to Kyambadde Peter, a senior manager of Tax and corporate services at KPMG, authorities should create relationships with regulatory bodies to be able to easily follow up on their tax liabilities.

Discussions at the three-day event was organized by Uganda BAATI the largest and Oldest steel company in East Africa since 1964 addressing concerns ranging from standards, business growth and continuity, opportunities and challenges, strengthening relationships, and building value to the customers, and harnessing solutions for their problem areas.