By Henry Banyenzaki,
Sir, News that the European Union is to pass legally binding measures on country by country reporting for extractive companies has given a lift to transparency campaigners here (“EU closer to adopting financial reform similar to US”, March 4).. The committee I chair in parliament soon will have much of the information on oil revenue that we need to hold our executive accountable.
The recent oil finds in Uganda, estimated at 2bn barrels, have the potential to transform our country, reducing poverty and pushing us to middle-income status. However, our neighbours in Congo have shown that natural resources do not always lead to development. Swift implementation of these reforms, and assurances that payments will be broken down project by project, will give us the best chance possible to avoid the resource curse and allow all Ugandans to benefit from our oil.
Henry Banyenzaki, is the Chairman Uganda Parliamentary Forum on Oil and Gas
There is nothing like swift implementation of anything in Uganda parliament filled by people with no intergrity and liers who are in there to prop the regime into power for ever.You Hon.Banyenzaki so the manner in which they tried to deny that the security ever handled the hammer when everything was recorded by different media. If M7,the wife,Kirunda kivejinja and his deputy can accept a simple reality,then why should you think you be let free to implement those reforms. The oil production is a curse to the poor Ugandans and an attraction for party NRM to stay in power for ever.