A number of youths have been equiped with knowledge about economic policy making and development at an economic conference that took place Saturday in Lake Victoria Hall at Lake Victoria hotel Entebbe organized by Ethical African organization .
The conference was based on a theme rethinking Uganda’s economic development agenda and the talking points of the were adapted from American author Henry Halitzz’s book ‘ Economics in one lesson’
While addressing the learners the moderator of the day and also the Chief Operations Officer Ethical African Organisation Muwaaya Ibrahim urged all youths to equip themselves with knowledge about the actual policies that can improve Uganda’s economy and also knowing which policies are applicable and ones that are not.
In his speech the guest speaker Counsel Denis Yekoyasi Kakembo a taxation lawyer addressed the different factors hindering Uganda’s economy growth
He pointed out taxation as the major challenge and further advised the government to rethink its taxation policy something he hopes can increase on disposable income and production.
“Presently the biggest issue is about taxation there is a feeling among the business people are that taxe rates are fairly high. Sometimes start up don’t believe government is supportive i think government needs to rethink its taxation policy or even taxation rates like income tax you really wonder why our effective tax rate of pay as you earn is 40% its really a high rate for an employee.”he noted
“It means you are taking away disposable income if the employees had the disposable income you would spend a little more and if you spend a little more you stimulate demand in the economy and demand is a little higher it stimulates production and if production is high it can spar economic opportunities and employment opportunities”he added.
Denis further advised the government to put up a proper plan for the ever increasing young generation.
“We have patinent issues that need to be dealt with we have the youngest population over 75% of Uganda’s 45million people is below the age of 75 and in 27 years we are projected to hit around Uganda’s 100 million as a nation we need to think hard how we are going to manage to meet the aspirations of the young people, employment opportunities and infrastructure and believes the policies”
Mr Denis also called upon the young men and women in attendance to adopt new policies that will help improve Uganda’s economic standards.
Speaking after the event, The founder and executive director of ethical African organization Imran Lutakome Kigongo claimed that the conference aimed at looking at the soundness of economic policies in Uganda and also the possible solutions to the different economic crises that Uganda has gone through.
Imran further advised government to improve on the youth livelihood policy.
“The better way of living with over 300 billion of money borrowed to people who are unqualified what about setting up proper institutions with streamlined systems and also educating these people before giving them money .̶