Lukwago To Meet Owino Market Leaders Over 4bn Debt
The lord mayor of Kampala Erias Lukwago is this week set to schedule an emergency meeting with the leadership of Owino market to devise means of saving their land over 4billion debt.
The debt arose from a loan, which Owino Market vendors acquired from Dfcu bank in 2011 for the lease of land, on which the market sits, from Kampala Capital City Authority.
However, the vendors failed to clear the debt which made Dfcu run to court seeking for legal settlement of the issue.
High court in its ruling recently ordered for the attachment and sale of property of Owino market vendors in order to recover the money for the bank loan.
Responding to court order, Lukwago said the government is to blame because it was its responsibility to construct the market for vendors something which pushed them to borrow this loan.
“If the government had built the market, the vendors wouldn’t be forced to acquire loan,” Lukwago said.
He said that as KCCA leaders, their hands are tied since their budget was cut by the government from 563 billion to 314 billion, therefore they cannot do much but he is optimistic that in the meeting, they will be able to come up with a lasting solution to save the land for vendors.