Kasaija to private schools: “Sell school assets to repay bank loans, government is broke”
The clergyman for Finance and Economic Development, Matia Kasaija has encouraged non-public school proprietors to sell school resources and reimburse bank credits as opposed to requesting government bailouts.
To say this, Kasaija was reacting to calls by tuition based school proprietors, who asked government for a school recuperation asset to help them finance credit reimbursements.
Addressing writers outside Parliament on Friday, Kasaija said that administration doesn’t have cash to rescue schools.
“The solitary guidance I can give school proprietors as an individual who examined business, is that allowed them to sell school resources and reimburse the advances as opposed to losing both. This is the thing that they need to do,” Kasaija said.
Kasaija said that he will converse with Bank of Uganda and check whether these advances can be rescheduled yet there isn’t anything he can do meanwhile.
“I need more cash to do what the country needs me to do. Allow them to go to banks and converse with them pleasantly,” he said.
Tuition based school proprietors recently held a press preparation where they said that with the vulnerability of when instruction organizations will return, a few banks have effectively taken steps to take on property which they sold as insurance for advances.
These as per their affiliation representative Christopher Kiwanuka, had gotten credits from business banks to remodel and extend their schools, trusting they would recuperate the advances from understudies’ expenses assortment.
The schools, as indicated by Kiwanuka, have now defaulted on reimbursement since the establishments were shut in June following the second flood of the Coronavirus pandemic.
