Tag Archives: Public Finance Management Act

Kampala, Uganda | THE INDEPENDENT | The Minister for Local Government, Raphael Magyezi has asked lawmakers to amend the Public Finance Management Act to mandate local governments to appropriate local revenues in accordance with the Constitution, the Local Government Act and the policy on decentralization. Article 191 (1) of the constitution states …

Kampala, Uganda | THE INDEPENDENT | The Finance Minister is expected to present the final budget estimates for financial year 2022/2023 to Parliament by Thursday, 31 March 2022. While chairing the House on Tuesday, 29 March 2022, Deputy Speaker Thomas Tayebwa quoted Section 13 of the Public Finance Management Act and Rule …

Kampala, Uganda | THE INDEPENDENT | The Urban Authorities Association of Uganda has petitioned the Minister of Local Government seeking amendment of Public Finance Management. Through the Public Finance Management Act (PFMA), the Ministry of Finance, Economic Planning and Economic Development introduced regulations under Integrated Financial Management System in which all …

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 Finance Ministry has presented a supplementary expenditure report of shillings 437.631 billion for the 2019/2020 financial year to parliament for consideration. The additional expenditures are one percent of the total national budget of UGX 40.5 trillion for the 2019/2020 financial year. The Public …

Kampala, Uganda | THE INDEPENDENT | The government has increased the deposit insurance limit from the current 3 million to 10 million shillings. This is the amount of money that is put aside to cater for misfortunes like the closure of a bank, as a guarantee that depositors can be …

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 …

Kampala, Uganda | THE INDEPENDENT | The Deputy Speaker Jacob Oulanyah has today suspended plenary sittings so that Sectoral committees can consider respective ministerial statements for the financial year 2019/2020. According to the Public Finance Management Act,2015, government should have submitted all ministerial policy statements by March 15th. However, most …