Jinja – A section of Investors have asked the Government to ban the importation of some goods into Uganda, saying the country has now developed capacity to assemble and manufacture most of the goods.
Speaking to Red Pepper Digital on Monday November 2, at his office, Tarun Jain, the Managing Director (MD) of Nile Transformers Ltd said banning the importation of locally produced goods like transformers will not only develop domestic industries but also improve the lives of Ugandans who will benefit from improved social services as result of enhanced taxes.
‘’ We thank the President because he has been an advocate for Buy Uganda Build Uganda (BUBU). All the major economies in the world are thriving on their respective manufacturing industries. We ask Government agencies to implement the President’s directive on stopping importation of locally manufactured goods’’, said Tarun.
Tarun gave an example of their Jinja based Nile Transformers Ltd, a company manufacturing up to 5 MVA/ 33 kV class Distribution transformers and up to 50 MVA / 132kV class Power transformers, Custom Built Transformers, Transformer Repairs Specialty Testing, Overhauling of Transformers, Off-site maintenance, Annual Maintenance Contract among other huge electricity services.
‘’This is the first in all of Africa to handle transformers up to 50Mva-132kV class catering to demands not only for Uganda but Africa earning the country immense foreign exchange ‘’,added Tarun.
Tarun who revealed that the company is determined to train over 60 Ugandans in various technical expertise including engineers to fulfill its goal of meeting Africa’s requirement of power and Distribution of transformers, wants the government to protect existing factories and industries from imports.
Nile transformers ltd that partnered with Shilchar Technologies Ltd India is a World-class Manufacturing and Repair facility for transformers that will boost the community through social corporate responsibility and empower the economy through taxes,
In May this year, President Museveni called upon the country to wake up and stop importing things that are made locally. He said his government is going to recapitalize Uganda Development Bank so that local investors are able to get loans to start import substitution.
It should be remembered that the number of licensed projects by the Uganda Investment Authority increased from 247 in Financial Year 2017/18 to 286 in Financial Year 2018/19.
The number of jobs that would be created was estimated at 59,940 in Financial Year 2018/19, doubling the number in the previous year at 23,816.
- WORRY! Land grabbing cases Rock Mbale
- Court to Deliver Ruling in Begumisa Petition Against Niwagaba in Ndorwa East Election
- GERMAN CUP: Monchengladbach Sanitises, Humiliates Bayern Munich | 5-0
- WEST NILE: Rev. Pons Ozelle Elected Third Bishop of Nebbi Diocese
- KITAGATA FIRE: Leaders Call for quick intervention
With the development of industrial parks and free economic zones, the number of new investments is increasing exponentially, creating huge employment opportunities. However the main challenges faced by manufacturers in the country remains high importation of locally produced products.