Kampala, Uganda | THE INDEPENDENT | Opposition legislators have criticized the leadership of parliament for postponing plenary sittings pending a debate on a proposed motion challenging a vote on the government’s decision to purchase shares in Roko Construction Limited. Parliament voted on the purchase of preference shares worth Shillings 202 billion …
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Kampala, Uganda | THE INDEPENDENT | Government has asked Members of Parliament to support the proposal to buy shares in ROKO Construction Limited to save ongoing construction works. The Minister of State for Finance (General Duties), Henry Musasizi recently tabled a proposal for the government to purchase 150,000 preference shares in Roko …
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Kampala, Uganda | THE INDEPENDENT | The Finance Committee of parliament and Roko Construction Limited have disagreed on the alternative financing possibilities for the company. The committee is considering a proposal from the government to purchase 150,000 shares worth Shillings 202.13 billion in Roko Construction Limited payable over five years. The …
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Kampala, Uganda | THE INDEPENDENT | The Chairperson of the Finance Committee, Keefa Kiwanuka has advised the Minister of Finance to re-allocate the Shs319 billion earmarked in the 2022/2023 budget for the International Specialised Hospital in Lubowa. This was during the meeting with the Ministers of Finance, led by Matia Kasaija while …
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Kampala, Uganda | THE INDEPENDENT | With ravages of COVID-19 which swept the economy down to a growth rate of three per cent, government is hoping to get to pre-pandemic levels of six per cent per annum in Financial Year 2022/23. President Yoweri Museveni, through finance minister Matia Kasaija, last week tabled …
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Kampala, Uganda | THE INDEPENDENT | Uganda Revenue Authority (URA) officials have told Members of Parliament that 4.3 trillion Shillings projected revenue is to be foregone due to different unfunded interventions in the coming financial year 2022/2023. Led by John Musinguzi, the Commissioner General, officials from URA on Monday appeared before …
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Kampala, Uganda | THE INDEPENDENT | The high costs of essential household commodities are worrying and Members of Parliament want government to take action and stall rising prices. Kampala Central Member of Parliament, Mohammed Nsereko said the concerns of high fuel prices have now shifted to the increased prices of soap, …
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Kampala, Uganda | THE INDEPENDENT | The acting Leader of Opposition, Muwanga Kivumbi has revealed plans to publish names of Members of Parliament who have so far signed on a motion seeking to censure the Minister of Security, Maj. Gen. Jim Muhwezi for allegedly abdicating responsibility in the face of torture …
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Kampala, Uganda | THE INDEPENDENT | The Uganda National Oil Company (UNOC) will now retain a portion of the proceeds from the sale of petroleum products following the passing of the Public Finance Management (Amendment) Bill, 2021. During the Tuesday plenary sitting chaired by Deputy Speaker Anita Among, legislators amended the …
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Kampala, Uganda | THE INDEPENDENT | Parliament has passed the Income Tax (Amendment) (No. 2) Bill, 2021 which provides for windfall tax and limitations of deductions on petroleum operations. The bill, presented by Minister of State for Finance (General Duties), Henry Musasizi, was passed during plenary sitting on Tuesday, 14 December …
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