{UAH} Tourism & hospitality sectors call for a stimulus package from govt

Godfrey Kiwanda, State Minister for Tourism (5R) is flanked by UTB CEO, Lilly Ajarova (3L) and UHOA's Suzan Muhwezi during the ITB Berlin Tourism Expo in Germany

The Impact of the Coronavirus on Micro, small and medium-sized enterprises in Uganda and recommended policy interventions:

The Economic Impact of the coronavirus pandemic will be huge for the Ugandan Economy.

According to experts, the most affected sectors will be the travel, tourism, hospitality and entertainment entities.

It is against this background that the Federation of SMEs-Uganda has called on government to boost liquidity for small businesses.

"This can be done through backing an emergency low-interest fund from which small businesses can borrow to meet their working capital and operational requirements during this period. Moreover, the Central Bank could also slash interest rates to spur lending to the private sector," reads a statement by the Executive Director of FSME-U, John K. Walugembe.

He further added that government should offer tax relief to businesses by lowering the VAT rate for all businesses and offering a grace period of 6-12 months for businesses to pay their outstanding taxes.

"Finally, the government should relook at the national budget with a goal of putting in place a comprehensive Coronavirus stimulus package for businesses and consumers."

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"When a man is stung by a bee, he doesn't set off to destroy all beehives"

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