By Namugerwa Martha

Prime Minister Ruhakana Rugunda has revealed that government is going to start reducing electricity costs for investors to lure them in investing more money in Uganda.

Rugunda said this during a United Nations Development Program conference citing that many Ugandan investors are backing out because of the electricity costs and other bills which in most cases need to be constantly paid.

“Electricity costs are high for investors because their industries operate using electricity which becomes expensive for them to pay.” Rugunda said.

Amelia kyambadde, minister of Trade Industry and Cooperatives added that investors pay a large amount of money in form of taxes and bills which leads their companies to incur losses and eventually shutting down.

“I think government organizations like UMEME and Uganda Communication Commission (UCC) should become private sectors so that they can decrease on the taxes and bills they force the investors pay constantly.” Kyambadde said.