I posted this story yesterday but let me do it again. I am broke. So when I see money flying about, I want some. Dont you? Lake Vic is gone. I wanna get my hands on Mt. Rwenzori. ------------------------------ The government of Uganda has borrowed a total of Shs 1,302,961,140,000 without getting the constitutionally required Parliament’s approval. This was revealed during a Parliamentary committee hearing on Tuesday. The Committee of National Economy unearthed the alleged illegality in a hot session with the officials from ministries of Finance and Energy led by ministers Maria Kiwanuka and Irene Muloni respectively who failed to convince lawmakers why the Executive bypassed Parliament to borrow the huge sum of funds. The Committee chaired by Ibanda North Xavier Kyoma was surprised to learn that the two ministers have already secured $482,578,200 – an equivalent of Shs 1.3tn from the Export-Import Bank (EXIM). The government officials want the transaction endorsed by Parliament. The loan is for the construction of Isimba Hydropower project and Isimba Bujagali Inter-connection project. According to Members of Parliament, actions by the Executive are contrary to article 159 (2) of the country’s constitution which stipulate that borrowing by government should solely be authorized by an act of Parliament. “The executive at times take us for granted. This is an abuse of the constitution by bypassing us and getting such a big money while article 159 (2) clearly streamlines how such processes should be managed,” said MP Hon Migande Ndugwa. The committee also learnt that the contract for the huge project has already been awarded without first fulfilling the due procedure of acquiring the loan. It remains unclear how the two arms of government – Parliament and Executive will harmonize their position on the matter. Chimpreports has also separately learned that President Museveni has called Muloni and Kiwanuka for a meeting at State House Entebbe. chimpreports/govt-borrows-1-3tn-illegally/
Posted on: Wed, 26 Nov 2014 21:35:04 +0000
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