According to Information, Communication and Technology Minister, Frank Tumwebaze, Cabinet has directed the Finance, Planning and Economic Developments Minister to prepare the amendment bill in consultation with the Attorney General.
Mutebile explained that although the central bank was incessantly criticized when it took over Crane Bank in December 2016, Bank of Uganda had no other option other than putting Crane Bank under administration and later selling it.
Speaking at the Annual Bankers Conference at Serena Hotel this morning, Mweheire said the government arrears have now exceeded one trillion Shillings and advised that Ministry of Finance should put in place mechanisms to clear all the arrears on time.
Isma Jjemba, the Chairperson of Truck Drivers at Kasana Stage explains that the increment was triggered by the rise in fuel prices, as well as taxes levied on fuel, Motor vehicles and spare parts. He adds that the cost shoots further up depending on the destination of the buyer.