Minister for Finance, Matia Kasaija has advised owners of private schools to sell off some of their assets to pay bank loans.
When Uganda instituted the first lockdown in March last year, schools were among the first sectors to totally be closed and when easing started, they were partially opened for candidate classes.
Earlier this year, other classes were also allowed to resume but unfortunately the second wave of COVID-19 hit the country barely two months after their reopening.
In such circumstances, Proprietors of private schools have on several occasions asked the government to save them from commercial banks which want to sell off their schools for defaulting on loan repayment.
While appearing before the parliamentary committee on trade, tourism and industry chaired by the Mbarara City South MP, Mwine Mpaka, Kasaija noted that the Government does not have money to bail them out.
He instead advised the private schools owners to sell their property to pay bank loans before banks take over their schools.
