The minister of trade and industry Amelia Kyambadde has suspended the trade licenses for all businesses as one of the moves to calm traders who are currently demonstrating.

Amelia Kyambadde

Kyambadde says they have found that many businesses are being charged high trading license fees that are not commensurate with the services offered by the relevant local governments.

Kyambadde made the announcement in parliament this afternoon as she was explaining the steps her ministry is taking to avert the ongoing strike by the traders.

Kyambadde was responding to the concerns of MPs such as Kampala central MP Mohammed Nsereko who had tasked parliament to pressure government to do something on the increased depreciation of the Uganda shilling against the US dollar, and high fuel prices, among other issues.

Kyambadde   told parliament that after interfacing with the traders whose major concern was the dollar rate, she realized the traders had other concerns like the trading license which needed immediate action.

Kyambadde says the Bank of Uganda and the Ministry of Finance are working to ensure they stabilize the dollar market in Uganda.