By Otim Nape
President Museveni’s cabinet has, through Deputy Finance Minister David Bahati, asked for Parliament’s permission to borrow Shs481bn to finance a range of supplementary budgetary needs which include buying hand hoes (Promised by M7 in 2016 campaigns) worth Shs80bn. The other item, according to Bahati’s request, that the Amos Lugolobi-led MPs on the budget committee discussed and passed on Thursday, is the Shs20bn that government wants to inject in Atiak Sugar Factory Ltd owned by Oasis Mall tycoon Amina Hersi Moghe. Whereas its true Amina’s struggling sugar business enterprise badly needs this cash injection, the GoU will in return acquire a shareholding in the sugar factory. On this supplementary request is another Shs60bn earmarked for the CCTV installation project to curb rampant crime. It’s also includes Shs57.9bn for State House’ classified expenditure. The relevant law (the Public Finance Management Act) requires that for any supplementary exceeding 3% of the total budget, the executive must get parliamentary authorization. But some MPs have vowed to oppose this Bahati request (which by the way Cabinet already approved) on grounds that both the law and prudent practice require that supplementary requests can only be appropriately entertained to fund unforeseen emergencies inclusive of things like earth quakes, floods and other natural disasters.
In the Thursday meeting, the MPs as dully required directed Bahati to disclose the source where this Shs481bn is going to come from and he candidly told them it was to be borrowed from commercial banks which these days prefer lending government (it’s safer) than private businessmen. Some critics like Nandala Mafabi argue that the Shs80bn for the hoes is all of a sudden becoming such a big priority because the President, who will soon be returning to the same citizens asking them to vote in a referendum to extend his term from 5 to 7 years, shouldn’t be attacked by angry voters calling this an unfulfilled pledge that originally was meant to be fulfilled within just months. For comments, call/text/whatsapp us on 0703164755!
