Members of the Committee on Commissions, Statutory Authorities and State Enterprises have requested the finance ministry to provide documentation outlining the criteria used to grant bailouts to companies facing financial crises.
The committee chairperson, Hon. Medard Sseggona, noted that companies owned by foreign investors have been the primary beneficiaries of bailouts, as opposed to companies owned by Ugandan investors.
During a meeting on Friday, 28 June 2024, committee members engaged with officials from the ministry, led by finance minister, Hon. Matia Kasaija.
Sseggona also asked the minister to furnish the committee with a list of all companies in which the government holds shares, including details about the government’s investment and level of involvement in managing these companies.
Additionally, Hon. Timothy Batuwa inquired about the companies receiving tax waivers from the government, specifically referencing Bujagali Energy Limited.
The committee also raised concerns about the selective release of funds to different universities, urging for a fair and consistent allocation of resources.
Kasaija addressed questions regarding URA’s tax assessment on gold exports, stating that measures had been put in place to collect appropriate taxes on processed gold exports.
He provided details on the amount of gold exported and the taxes collected between specific timeframes, highlighting the efforts made by the government to ensure accurate tax assessment and collection.
This information was shared by APO Group on behalf of the Parliament of the Republic of Uganda.