MP wants law against paying landlords in foreign currency

RAKAI district Woman Member of Parliament, Juliet Ssubi Kinyamataama wants parliament to enact a law that restrains landlords from charging traders in dollars this habit is greatly affecting many businesses in the Country.

Charging tenants in dollars keeps business unstable as it drop or increase at any time.

Charging tenants in dollars keeps business unstable as it drop or increase at any time.

Kinyamataama, says every time traders are pushed to pay rent in dollars,  there has been an increased  price on commodities and where they cannot they have ended up making loses which she says has made many young people to close of businesses as they cannot sustain this.

She vowed to table the motion in the house next week, adding that Parliament also needs to approve all tenant agreements meant for businesses signed in shillings.

Kinyamataama says that parliament needs to urgently intervene before more businesses collapse. She also proposes a law that burs trading of local businesses in dollars which also affects the duplication of the shillings.

In recent weeks, many business many have expressed their concerns about the economy with some asking government to come to their rescue through what has come to be termed as a ‘bailout’.The business men say high interest rates by banks and the war situation in South Sudan has caused them a lot of losses.

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