Kasaijja the finance minister.

The Minister of Finance, Matia Kasaija, while appearing before the National Economy Committee of Parliament noted that new and old roads have been cut to connect pipes for water, electricity and communication cables and that this has affected most roads hence weakening them.

Kasaijja said he has now instructed the Committee Chairperson, Hon.Syda Bumba, to immediately write to the Prime Minister, Dr. Ruhakana Rugunda about the dangers of cutting roads so that there is an immediate stop to the practice.

He also said he was to meet Dr. Rugunda over the same matter and discuss so that such sectors can submit their master plans in time by cutting roads which he said will not be accepted any more.

Road pavements damaged by cuttings.

The most affected roads are in the City Centre where water and electricity connections are done living portholes and it’s seen as the major destruction of road infrastructure in the Country.

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Minister of Finance, Matia Kasaija.

Minister of Finance, Planning and Economic Development, Matia Kashaija has asked members of parliament on the National Economy Committee to approve a loan request for the construction of Luwero-Butalangwa road to facilitate investment in the areas which were torn apart during the National Resistance Army (NRA) Liberation war in the early 1980s.

Kasiaja said there is urgent need to upgrade the road since it has been impassable during rainy season. He said this while appearing before the Parliamentary Committee on National Economy to defend the loan request of 11.5 million dollars for the construction of this 29 km road.

He said that this will be one of those roads connecting the created industrial park to other investors who are going to manufacture road works material.

He told MPs that they should approve this loan without fear that government will fail to service it, adding that though the country’s debt now stands at 7.4 billion dollars, the money will be cleared in due course.

The Chairperson of the National Economy Committee of Parliament who is also the MP for Nakaseke,North County, Syda Bumba said that this road if constructed will connect the country to one of the area where much milk is produced.

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Minister of State Matia Kasaija.

The minister of finance, Matia Kasaija however angered MPs when he told parliament that the ministry released 3 billion shillings to address the problem however no more money will be released unless that money is accounted for.

Kasaija adds that the ministry of health has no capacity to absorb 11 billion shillings if it is released at once as asked by MPs.

The deputy speaker, Jacob Olanya however ruled the minister of finance Matia Kasaija out of order when he told parliament that the ministry of health has no capacity to absorb the money.

The state minister for health, Sarah Achieng Opendi says that Hepatitis B is a big problem in the country  and that the ministry can’t address it without finances.

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This came after the minister of finance; planning and Economic Development Maria Kiawanuka Nabasirye failed to convince them on the friendly modalities on how the youth can access funds for job creation.

Maria Kiwanuka, Uganda Minister of Finance

The mps said that the conditions put for the youth to access youth funds are road blocks for the them to get secure the loans from the banks.

This forced the minister of finance Maria kiwanuka to withdraw the statement and pleaded with MPS to allow her bring another next week signed by the managing directors of DFCU, Stanbic bank and Centenary bank where these banks  do not exist.

Some of the conditions put by banks and government to access youth fund include each youth borrower shall be able to provide employment to at at least four people over loan period ,each youth borrower of the youth fund will be fixed interest rate of 15% on this loan fund lent out until june this year when its reviewed.

Other conditions indicate that each borrower of this fund should demonstrate evidence of having invested at 10% of the loan amount in the business venture and the eligible businesses must have been in operation for a minimum period of three months with a demonstratabale potential to grow. Some mps had proposed that the youth fund should be put in prominent SACCOs where the youths can easily access the funds.

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Spies have learnt that yesterday the minister of finance, Miria Kiwanuka went into hiding when she noticed that a team from the ministry of foreign affairs had visited her office over the quarterly releases. It is said that the foreign affairs ministry officials have been on the neck of Kiwanuka over the money.

 Realizing that  the foreign affairs ministry officials had gone to get an answer why their ministry had not got the money for the last three months, Kiwanuka reportedly asked the receptionist to tell her visitors that she was out of office yet she was around.

A source in the finance ministry told this snoop that currently there is no money for the ministry of foreign affairs. It explained that the ministry was given money in the last three months but it was not enough to run all the foreign affairs ministry activities.

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The new board members are chaired by the Ministry of Finace’s Deputy Secretary to Treasury Keith Muhakanizi.

 Other members on the new board are Moses Kaggwa, who is the commissioner of Micro Finance, David Baguma who is the new Executive Director Association of Micro finance Institutions, the registrar of Cooperatives is Fred Mwesigye, Timothy Lubanga and ustine Lwagaba. Lwagaba is the only female on the committee. The committee has been appointed by the minister of finance, Miria Kiwanuka.

According to the records at the ministry of finance inKampala, Microfinance Support Centre Limited was incorporated in 2001 as a company limited by guarantee. It is role is to facilitate access to affordable, sustainable and convenient financial and business development services to active and productive Ugandans. Kazibwe’s board was first sacked in June 2011.

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The call comes following announcement by government to reduce taxes on sugar imports by 100%.

Addressing journalists at Parliament today, the Kampala Central MP, Nsereko Mohammed said it is not enough to cut taxes but this should be extended to other commodities such as fuel and salt.

Lwemiyaga County MP, Theodore Sekikuubo also called on government to break the monopoly of sugar manufacturing companies, which may use the scarcity to sell their products at exorbitant prices.

Ssekikubo says the rural population will continue to suffer the effects of the hard economic times more unless government comes out with lasting solutions to curb the running inflation.

The State Minister of Finance, Fred Omach earlier today announced the government was waiving all taxes on sugar imports in a move expected to ease the current shortage as some of the local manufacturers solve their productions shortfalls.

Omach also announced that government is freezing purchase of vehicles with a few exceptions, as a way of checking expenditure.

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