The Independent Uganda: You get the Truth we Pay the Price
He said government is reviewing weaknesses in the public financial management in order to strengthen the system. He said the public finance and accountability act is being amended to eliminate weaknesses currently inherent in the PFM laws.
He added that government has decided to widen the forensic investigations starting with the six big spending sectors of energy, roads and works, education, health, agriculture, and water.
He said that they have regularised the procedures for the control of general budget support donor disbursements within Bank of Uganda and Treasury, where all flow of funds will first be remitted to the Consolidated Fund Appropriation Account before they are credited to spending entities’ accounts.
Muhakanizi added that all the dormant project accounts in Bank of Uganda have been closed/blocked by Bank of Uganda. “The accounts that are no longer necessary are being closed in consultation with Accounting Officers of the respective votes.
He said that government has opened an account in Bank of Uganda to commence immediate recovery of the misappropriated funds in line with the laws of Uganda. He said a specific account has been opened to recover funds lost in the OPM and another account has been opened to receive other recoveries.
Other government bodies like the police, the Uganda Revenue Authority among others are doing all it takes to ensure that all the misappropriated funds are recovered and put to proper use, Muhakanizi said.
He said that they are in talks with the donors about resumption of development assistance to the country.
“We hope by June this year, this will have come to pass,” he said.
