The parliamentary Public Accounts committee has grilled the Permanent Secretary and Secretary to the Treasury (PSST) Keith Muhakanizi over the failure to supervise Agricultural project worth 30 billion shillings
In a heated meeting with the mps on the public accounts committee chaired by the woman member of parliament for Serere district Alice Alaso while handling the Auditor General’s report of 2012/13 discovered that Muhakanizi released 30 billion shilling annually in three years to Bank of Uganda under Agriculture Credit Facility (ACF) without guidelines.
Agriculture Credit Facility was set up three years ago to check the interest rates on low facilities extended to the agricultural sector by commercial banks as a way of facilitating agriculturalists to acquire agricultural loans at low interest rate.
Muhakanizi later after facing many questions from mps on this project he admitted releasing the 30 billion shillings for the project without guidelines saying that the execution of the ACF was done in a rush due to political pressure.
Mps accused Muhakanizi with some officials from ministry of finance and Bank of Uganda of colluding with participating banks in this project to defraud tax payers money.