Permanent Secretary and Treasury Secretary Ramathan Ggoobi has advised higher education institutions to lower their financial and entrance requirements to support the country’s economic recovery and resilience in the post-covid-19 period.
During the inaugural ceremony of the annual commemoration of Tumusiime Mutebile public lecture held at Makerere University, Ggoobi, who was the keynote speaker, proposed that tertiary institutions should minimize tuition fees so that students , especially those from vulnerable socio-economic backgrounds, can access higher education. education.
“Universities need to relax both academic and financial requirements a bit to accommodate more students and reduce the dropout rate. Leave no student behind, especially those from the most vulnerable socio-economic backgrounds,” he said.
He added: “Families are going through a very difficult time, so develop student-centered responses in a timely manner to meet those needs. Universities should also play a role in economic and social planning.
He also called on educational institutions to be business incubators.
“Universities should think about practical ways to avoid the growing boomerang generation where young people are graduating but still have to live with their parents,” he said.
“We need to have more people employed in the manufacturing sector because the country needs an industrial policy to develop. The key to economic recovery probably lies in the ability of our universities to generate the kind of human resources that will ultimately result in entrepreneurship and innovations,” Ggoobi added.
On the issue of soaring commodity prices, the Economist disclosed that the government and its partners are working on economic stimulus efforts to overcome the causes of inflation which he says are supply-side, external and global.
By March 2022, Ugandan inflation had risen to 3.7%.
The government’s response, he said, focuses on maintaining a competitive environment to support a continuous supply of goods and services whose flow is currently limited.
“We want to avoid creating more shortages because they can’t let demand outstrip supply.”
He also disclosed that the government is going to facilitate more exports so that people who export various goods from Uganda will earn more hard currency.
The government, he added, also wants to help farmers produce more food to ensure the country does not suffer from food shortages “since food is the main driver of inflation in Uganda”.