news-details

Deputy Speaker advocates for mining licences to boost local steel industry

The Deputy Speaker of Parliament, Mr Thomas Tayebwa, is advocating for a government policy that would grant mining licences to all iron ore and steel manufacturers. His remarks came during a two-day tour of investors in Eastern Uganda, beginning at Tembo Steels in Iganga District on Friday and concluding at Mbale Industrial Park on Saturday.

“We should ensure that mining licences are available for all steel manufacturers to create a level playing field,” Mr Tayebwa stated during a media briefing on Friday. He emphasised that providing these licences would eliminate the justification for importing raw materials. “We will ask, ‘We provided you with a raw material and a licence; why are you still importing these raw materials that are 95 percent finished products?”

He acknowledged the significant carbon footprint associated with factories like Tembo Steel but noted that the facility operates in “a very green area.” Mr Tayebwa promised to engage with the National Environment Management Authority (NEMA) to assess the carbon emissions from companies like Tembo Steel and explore ways to mitigate them.

During his visit to Tembo Steel, Mr Tayebwa aimed to better understand the challenges faced by investors and to equip Parliament, as decision-makers, with insights to support the Executive on value addition and other pertinent issues.

“As the leadership of Parliament, we are committed to pro-business interventions that align with President Museveni’s vision. The only way to do this is to engage directly with the field and witness operations firsthand,” he said. He also expressed support for the President’s railway initiative, which aims to reduce transportation costs for raw materials and exports.

Related Posts
Advertisements
Market Overview
Top US Stocks
Cryptocurrency Market