KAMPALA- Parliament has approved the proposal for the government to borrow about 700 billion shillings to facilitate UMEME buy out.
The motion to borrow was presented by the state minister for finance Henry Musasizi who asked parliament to authorize the government to borrow about 700 billion shillings from stanbic bank for the umeme limited Buy out.
Musasizi after presenting the motion informed parliament that at the moment the auditor general has not informed them on the verified amount for the buyout and informed parliament that in case the approved amount is less than the loan request before parliament, then the cancelled amount will not be forwarded.
The chairperson of parliament’s committee on National Economy John Bosco Ikojo while reading the majority report of the committee asked parliament to halt the scrutiny of the loan until the report of the auditor general is presented to parliament.
The minority reports were presented by Maracha county mp Dennis Oguzu lee and Bbale county mp Charles Tebandeke asked parliament not to approve the request until the auditor general presents a report and a cost benefit analysis on the umeme buy out loan request is done.
Oguzu lee asked fellow mps not to carry the burden of the people who slept on the job and defer the loan request.
A section of MPs who included the Bugweri county mp Abdul Katuntu, Napak district woman MP Faith Nakut asked parliament to approve the loan so that the country is not plunged into a crisis when the concession expires on 31st March.
The Padyere County MP Isaac Otimgiw asked parliament to pass the motion which was approved by parliament.
