• EDITORIAL POLICY
  • ABOUT US
PML Daily
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines
No Result
View All Result
PML Daily
No Result
View All Result
suubula suubula suubula
Home NEWS

Show that you mean business! MPs ask Museveni to sack Finance officials over illegal UGX481b bailout for BoU

GEORGE OKELLO | PML Daily Senior Correspondent by GEORGE OKELLO | PML Daily Senior Correspondent
January 28, 2021
in NEWS
0 0
814
VIEWS
FacebookWhatsAppTwitter
Uganda’s Finance, Planning and Economic Development Minister, Matia Kasaija says the UGX481 bn is a precaution, just in case the central bank falls below its capital requirements (PHOTO/File).

KAMPALA – Members of Parliament have demanded the sacking of Ministry of Finance officials whom they accused of sneaking into the Budget Framework Paper UGX481b for recapitalisation for Bank of Uganda (BoU).

The MPs from both sides of the House on Thursday, 28 January 2021, said it is time that President Museveni shows the country that he is committed to fighting corruption by acting against the officials.

On Wednesday, while interfacing with the Budget Committee of Parliament, BoU Deputy Governor, Dr Michael Atingi-Ego said they had not made any request for capitalisation and wondered where the money came from.

“How on earth can someone smuggle that amount of money into the budget? I want to thank the new Deputy Governor for coming out to deny that money,” Mr Elijjah Okupa, Kasilo County MP, said during plenary on Thursday, January 28, 2021.

Budadiri West MP Nandala Mafabi said by sacking Ministry of Financial officials, then the President will show that he is going to fight corruption in the new term of office.

The Budget Committee of Parliament in its report presented before the House recommended that Finance ministry removes the Shs481b request from the Budget Framework Paper, describing it as fictitious.

Kacumbala County MP Patrick Isiagi Opolot, who presented the report of the committee, said: “The committee recommends that this allocation should not be part of our budget. But if this money was coming from our taxes and not borrowing, we would have recommended it goes to other sectors. This was supposed to be borrowed domestically.”

Minister Matia Kasaija, who interfaced with the Budget Committee on Wednesday, was not in Parliament on Thursday, to defend the allocation.

State minister for Planning David Bahati said he could explain the origin of the recapitalisation request, asking the MPs to wait for Kasaija.

On Wednesday, Dr Atingi-Ego informed the MPs on the Budget committee that the central bank had got recapitalization at the start of this Financial Year and do not need another one.

“More recently in 2020/2021, the accounts of Bank of Uganda were audited and the big picture is that Bank of Uganda made a modest profit of Shs40b and as such, Bank of Uganda is not requesting for any recapitalization because the capital is not needed. There is no basis for requesting for recapitalization” he said.

Comments

Tags: Dr Michael Atingi-EgoFinance Minister Kasaijatop

Related Posts

World

Biodiversity extinction crisis threatening food supply, conservationists warn

March 3, 2021
11
Military beating up journalists as they cover Bobi Wine on Wednesday (PHOTO/Courtesy).
NEWS

Journalists sue govt, Military Police commander over brutality

March 3, 2021
20
World Food Programme Rwanda Country Director Edith Heines with some of the refugees (PHOTO/Courtesy).
Regional

UN appeals for $266M to feed over 3M refugees in Eastern Africa

March 3, 2021
15
UCC Ag. Executive Director Irene Kaggwa Sewankambo (PHOTO/Courtesy).
NEWS

UCC seeks to establish framework to guide deployment, sharing communications infrastructure

March 3, 2021
30
Egyptian President Abdel-Fattah al-Sisi Sudanese Foreign Mariam al-Sadiq al-Mahdi in a meeting (PHOTO/Courtesy).
AFRICA

Egyptian president, Sudanese FM discuss disputed Nile dam

March 3, 2021
18
Ebola is a highly contagious hemorrhagic fever (PHOTO/Courtesy).
AFRICA

Ebola infects 28 people, kills 11 in Guinea, DRC

March 3, 2021
19

Advertisement






 

 

About

The PML Daily, published via www.pmldaily.com is a publication of Post Media Ltd, a professional Digital/New Media company in Uganda.

Follow us

KIU

  • EDITORIAL POLICY
  • ABOUT US

© 2021 PMLDAILY.COM.

No Result
View All Result
  • Home
  • NEWS
    • Politics
    • Education
    • Regional
    • Africa
    • World
  • INVESTIGATIONS
    • National Archives
    • Special Reports
  • OpEd
  • BUSINESS
    • Agriculture
    • Tech
    • Finance
  • FEATURES
    • Health
    • Tours & Travel
    • Entertainment
    • Society
  • COLUMNISTS
    • The Suited Penguin
  • SPORT
  • Jobs
  • Magazines

© 2021 PMLDAILY.COM.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In