The Pre-Election Economic and Fiscal Update issued by Moses Kaggwa, the Acting Director Economic Affairs says that the approved and disbursed loans led to a cumulative stock of 17.221 trillion in September, 2020.
The report, signed by Moses Kaggwa, the Acting Director of Economic Affairs says that the amount required by the various MDAs involved in preparation and conduct of the general election for the electoral roadmap from financial year 2019/2020 to financial year 2021/2022 is 1.255 trillion Shillings. The biggest share of this amount totaling 772.24 billion Shillings is under the Electoral Commission (EC).
Majid Batambuze the Chairperson of Urban Authorities Association of Uganda says that once the money is deposited in Bank of Uganda, the Ministry of Finance is slow to approve requests to utilize the funds, which affects service delivery.
According to the EC Chairperson, Justice Simon Byabakama, they are in a crisis due to lack of funding amounting to Shillings 518.944 billion for the 2021 elections.
Appearing before the Finance Committee on Wednesday chaired by Rubanda East MP Henry Musasizi, the Minister of State for Finance David Bahati was questioned about the continuous recapitalization of the Bank.
The Attorney General William Byaruhanga has denied reports that his company Pine Investments intends to sell 2.2acres of land at Nakasero to government for the AfreximBank project.
Parliament's Public Accounts Committee- Central Government has asked the Criminal Investigations and the Intelligence Directorate (CIID) to interrogate officials heading different projects under the Ministry of Finance for abuse of office.
