Tag Archives: Petroleum Fund

Kampala, Uganda | THE INDEPENDENT | Government seeks to allow the Uganda National Oil Company (UNOC) access to proceeds from the sale of its interests in the crude oil. The proposal is contained in the Public Finance Management (Amendment), Bill 2021 that was tabled by the Minister of State for Finance, Planning …

Kampala, Uganda | THE INDEPENDENT | There is no clear work plan for the 200 Billion Shillings that parliament has approved as an appropriation from the Petroleum Fund to partly finance the budget for the coming financial year 2021/2022. The House chaired by Speaker Rebecca Kadaga on Friday passed a 44.77 trillion …

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Planning David Bahati says the Petroleum Fund has shillings 70 billion. This is contrary to what he told the parliamentary finance committee last week that the fund had been depleted. Appearing before the budget committee on Tuesday, Bahati backtracked, saying …

Kampala, Uganda | THE INDEPENDENT  | The government has exhausted resources in the Petroleum Fund, Parliament has learnt. This is after the Minister of State for Planning David Bahati confirmed a zero budget allocation from the fund to support the coming financial year 2020/2021 budget despite previous allocations. “There is …

Kampala, Uganda | THE INDEPENDENT  | Uganda government will once again withdraw money from the petroleum fund and use it to fund the 2019/220 financial year budget. According to Bank of Uganda, government will withdraw 445 billion shillings which will be transferred from the fund to the consolidated fund for …

Kampala, Uganda | THE INDEPENDENT | Parliament has tasked the government to put in place a Petroleum Investment framework to guide the investment of funds from the Petroleum Revenue Investment Reserve. The decision followed a report indicating that the Petroleum Fund was not growing because funds therein were used to …