Matia Kasaija, the minister of finance

The Ministry of Finance has authorized the Uganda National Drugs Authority (NDA) to hike verification fees for imported drugs as a means of boosting locally produced drugs.

The NDA has been charging 2% verification fees on imported drugs but this will now be raised to 12%.

Speaking during a meeting on improving Uganda’s competitiveness in doing business, Finance Minister, Matia Kasaijja, said many Ugandan companies have built capacity but marketing their products locally has been a challenge due to tough competition from multinational pharmaceutical companies.

He says this directive which takes effect this financial year is anticipated to create local competition as well as promote the Buy Uganda Build Uganda policy.

The post National Drug Authority gets green light price hikes for drugs first appeared on Uganda Multimedia News & Information.

Experts say housing deficit to hit Uganda.

Uganda is likely to face a bigger housing deficit of 12.6 million housing units, if no tough measures are taken to address the issue.

According to the National Development Plan II, with the current population growth rate of 3. 4% and 5.2% urbanization rate, the demand for housing units is likely to dramatically shoot up.

Kasaijja the finance minister.

While launching the second annual Uganda Housing Finance Conference 2016 on Thursday, Finance Minister, Matia Kasaijja, said that even though the number of grass thatched houses has reduced by 10% from 38% in 2006 to 28% in 2014, more efforts are needed to ensure 100% decent housing in Uganda.

Kasaijja also urged housing companies to lower the cost of the units they sell and mortgage loans to enable rural people benefit as well.

Currently Uganda has 1.6 million housing deficit with 220,000 housing units needed in urban areas.

The post Uganda to face huge housing deficit, says finance minister Kasaijja. first appeared on Uganda Multimedia News & Information.