Monday, 9 June 2008
In the run up to this year's reading of the budget, the Private Sector Foundation of Uganda (PSFU) has added its voice to several others concerning the effect of counterfeits on local industry. The PSFU represents private sector interests in Uganda, giving a platform to its concerns and carrying out advocacy initiatives.
The PSFU has requested the Minister of Finance to increase the penalties for trading in or manufacturing counterfeits to 10 million shillings(about US$6,000) with a jail term of 5 years. The Chairman of the PSFU, a former Minister of Finance "also proposed the establishment of a regional and international link with other anti-counterfeits bodies to curb the importation of fake goods."
These demands from the PSFU come against the backdrop of initiatives geared at curbing counterfeits by the East African Community Secretariat within the region. Hopefully, the PSFU will work hand in hand with international agencies such as the International Chamber of Commerce (ICC) and the World Customs Organisation (WCO) to implement sterner measures.