FDC protest govt plan to borrow from local banks

By Sylvia Katushabe & Jane Nafula Both the Najjanankumbi and the Katonga Forum for Democratic Change (FDC) factions yesterday condemned the government’s decision to borrow from local commercial banks to fund supplementary budgets that were passed by Parliament last week. Addressing journalists during the weekly press briefing yesterday at party headquarters in Najjanankumbi, Kampala, Ms Margaret Wokuri Madanda, the deputy president for eastern region, said if the government borrows from local banks, the business community may not be in a position to access funds from the same banks. “Banks will prefer dealing with the government than the business people. The business community will either fail to find money and run out of business, [and therefore] worsening the unemployment problem in […]