Road works bill hits sh700 billion. The bill for conversion of murrum roads into bitumen has already hit sh700b as the Government fixes roads serving trade, tourism and agriculture sectors. Maria Kiwanuka, the finance minister says the national budget will focus on reliable power, all weather roads, skilled labour force and access to piped water, in line with what the private sector demands. “We are creating mechanisms to ensure that contractors are paid the moment checks are completed. The Government has a sh700b bill for tourism, agriculture and transit roads that have been rehabilitated,” she said. “Developing the private sector is developing Uganda,” Kiwanuka said at the first Finance Expo last week where government agencies that facilitate trade interacted with key private sector players. She noted that the Expo held at Hotel Africana last week will head to Gulu, Soroti and Mbarara before the year ends. Edward Ssekandi, the Vice- President represented President Yoweri Museveni at the Expo and urged government agencies to interact closely with the public and make them aware of strategic programmes and policies that boost trade and investment. “The Government must pass the test of accountability through provision of services to the public and the private sector,” he said. Ssekandi noted that provision of scientific technology and innovation are critical areas of investment as the country moves towards middle income status. He said the increased number of banks, a competitive tax regime, macro-economic stability and a vibrant securities market makes Uganda an excellent hub for both local and international investment. Olive Kigongo, the Uganda National Chamber of Commerce boss, noted that there is need for cheaper financing for the private sector to prosper. Allen Kagina, the Uganda Revenue Authority boss, said the private sector should take tax compliance more seriously and handle it at a board level and not leave it to the accountants alone. This, she said, would improve the overall tax to GDP ratio. Tress Bucyanayandi, the agriculture minister, noted that the Government has created a coffee policy to improve earnings from Uganda’s second highest foreign exchange earner. The Uganda Coffee Development Authority will soon publicise the new coffee policy in the interest of farmers. Uganda exported about 344,7 60-kilo bags of coffee worth $42m (sh109.2b) in February, bringing cumulative earnings to $388m (sh1 trillion).
Posted on: Mon, 23 Sep 2013 02:51:08 +0000
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