He said when fuel prices went up due to a war in Ukraine, Ugandans begged him to subsidise fuel and consumables such as food, something he could not do. 

“I don’t agree with subsidising fuel for driving to night clubs. People kept on pressuring me that Kenya had subsidised. If Kenya did, I wish them good luck. The only thing I can accept to subsidise is fertilisers, not consumables,” Mr Museveni said.

President Museveni, who was speaking yesterday during the 3rd Bi-Annual Presidential CEO Forum at Chobe Safari Lodge in Karuma, Kiryandongo District, said as one of the ways to avoid high prices of fuel, he advised people to substitute diesel and petroleum vehicles with the electric ones but that the process is slow.

“Kira motor boss called for take-off agreements to promote E-mobility and this is going to be done. As a result, all government departments will buy electric buses and I encourage Uganda Development Bank (UDB) to give cheap loans to all Ugandans who want to buy electric motorcycles,” Mr Museveni said.

His revelation followed a request from the chief executive officer of Kira Motors Corporation, Mr Paul Musasizi, who asked the government to sign the take-off agreements.

Mr Musasizi also asked the government to give tax holidays to all people dealing in equipment of electric cars.

“Over 2.5 million people use public means to Kampala Metropolitan areas. If the UDB can give transport associations cheap loan to purchase only 2,000 buses, Kampala would be a better place,” Mr Musasizi said. 

President Museveni directed the Ministry of Technology to set up an institute that will train people who will maintain electric cars.

He also said all people dealing in electric cars should be given tax holidays.

Meanwhile, President Museveni listed a number of business stimulus his government had been able to achieve such as peace health, education.

He said his government is now working on improving transport networks by ensuring that all districts are given enough money to work on their roads.

He added that the government is renovating railway transport as one of the means of reducing cost of cargo transport.

“Apart from road transport, I want put to emphasis railway and water transport. You can avoid road transport, which is expensive. We are going to renovate Kampala-Mbale-Soroti-Pakwachi railway” Mr Museveni said.

He also said they are working on reducing the power tariffs, something he said will also stimulate businesses.  By Damali Mukhaye, Daily Monitor