Gov’t seeks to borrow UGX386Bn for oil roads

Kampala, Uganda | THE INDEPENDENT | The government has tabled before parliament a proposal to borrow 386 Billion Shillings for the upgrading of oil roads in the Albertine graben.

The roads include the 54-kilometre Masindi-Biiso road, 25 kilometres of Hohwa-Nyairongo-Kyarushesha-Butole road, and 25.7 kilometres of Kabaale-Kiziranfumbi road.

Government Chief Whip Thomas Tayebwa on Wednesday told parliament that the money equivalent to Euros 96.3 million is being sought from the China Construction Bank Corporation.

Construction work on these roads started in April 2019 by the China Railway Seventh Group Company Limited. It includes widening of the roads, light grading and opening up of drainage structures, offshoots, drainage drifts, filling potholes, rock blasting, crushing of base course and concrete aggregate, excavation, and clearing of topsoil.

However, Lwemiyaga County MP, Theodore Ssekikubo questioned why all ministers under the Ministry of Finance were not in the House to present the proposal for the government to borrow.

“I have observed that this is a very important matter to commit the government to borrow such huge amounts of money. We have five ministers in the docket of finance but they are all absent,” said Ssekikubo in part.

He questioned the absence of all finance ministers saying that this poses a challenge in the processing of business in parliament.

Tasked by Speaker of Parliament Jacob Oulanyah to explain the whereabouts of the ministers, the Government Chief Whip Tayebwa told parliament that the ministers in charge of finance are meeting President Yoweri Museveni regarding the Budget Framework Paper for the coming financial year that is scheduled to be tabled before the House on Tuesday next week.

Oulanyah referred the loan request to Parliament’s National Economy Committee for the expeditious consideration and report.

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