20 companies cleared to import sugar

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The Trade ministry has cleared 20 Ugandan registered companies to import duty free sugar. The companies will receive tax waivers as soon as they declare the volume of sugar they have imported.

“We will be giving tax waivers to 40,000 metric tonnes of sugar for the first six months as we observe how the market responds,” Trade and Tourism Permanent Secretary Ambassador Julius Onen confirmed yesterday, adding that the actual waivers and clearance will be on first come, first serve basis.

Following the recent sugar deficit in the market, partly caused by low sugarcane yields, hooding by middlemen and by the temporary closer of Kinyara Sugar Company, the Trade ministry reached a decision in August to invite applicants through local newspapers to be given duty free clearance to import sugar tax free.

Some of the chosen companies include Bushenyi Commercial Agencies, owned by Mr. Obadiah Ntebekaine and Zabloni Rushambuza, Biplous Uganda Limited, S-Tel Uganda Limited owned by former Kampala Mayor Nasser Ntege Sebagala and World Point Group Limited owned by Dvid Mutebi and Moses Balyeku.

Others include Baggrey Trading Co Ltd, Trident Investment Ltd, General Agencies (U) Ltd (GAUL), Zen Trading Ltd, Golden Springs Investments Ltd and Akiphar. According to the Trade Ministry, all these companies met the documentary requirements to conduct import export business in the country.

Ambassador Onen said his ministry accepted all the companies that applied to import sugar. “This is a free market and we are encouraging competition. It is good for our economy,” he said.

By press time the 20 companies had picked their Duty Free Clearance Certificates, together with the terms and conditions for importation from Ambassador Onen’s office.

source:   monitor.co.ug

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