Ministry of Finance on Wednesday 22 January presented the National budget framework paper (NBFP) for FY 2020/21 to FY 2024/25 to the Finance Committee of Parliament. The National BFP is prepared in fulfillment of section 9 of the Public Finance Management (PFM) Act 2015. According to the NBFP, Uganda’s economy grew at 6.5% in real […]
The Uganda Revenue Authority (URA) is to start collecting all the tuition and other fees paid by students in public Universities in abid to curb misuse of funds by management. The directive was given by the Ministry of Finance and a single account which will be run by URA is yet to be opened on […]
Member countries of the East African Community are preparing to simultaneously table the 2018-2019 Budgets in their respective parliaments. In Uganda, finance minister Matia Kasaija will present a 30.9 trillion Uganda shilling (USD$8 billion) budget. Sarah Logan an Economist, at the International Growth Centre examines the economic context of Uganda’s annual budget and the associated challenges. What is the […]
The Ugandan Parliament has ordered government to avail Shs 5 billion that will be used to repair the dilapidated Ugandan Embassy in Brussels, Belgium. The member of parliament for Gulu municipality, Hon. Lyandro Komakech told parliament during a plenary sitting on Thursday 12 April 2018 that the state of Uganda Chancery in Brussels is in […]
Lawyers, Insurance companies, Human Resource Managers, Insurance Brokers and the Actuarial Association of Uganda have opposed a move by Ministry of Finance to withdraw the Pension Reform Retirement Benefits Sector Liberation Bill 2011 from Parliament, saying that the reforms will increase domestic savings and enhance investments. Addressing a press conference this week in Kampala, the managers of […]
Members of Parliament have put Uganda’s missions abroad on the spotlight over their failure to remit funds collected from the sale Visas and rental fees of the country’s properties abroad to the consolidated fund. The MPs says officials in these missions bank the collected funds from the Non Tax Revenue but that these funds do […]
The Ministry of Finance has authorized the Uganda National Drugs Authority (NDA) to hike verification fees for imported drugs as a means of boosting locally produced drugs. The NDA has been charging 2% verification fees on imported drugs but this will now be raised to 12%. Speaking during a meeting on improving Uganda’s competitiveness in […]
The Ministry of Finance has threatened to halt the release of funds to all ministries, department and agencies that have failed to submit their plans for the financial year 2017/2018. According to statistics from the National Planning Authority, of the total current number of 130 ministries, department and agencies, only 27 have successfully submitted their […]
The Uganda Revenue Authority (URA) has come out to defend the reward of over $1.6m (about 6 billion Uganda shillings) to civil servants who participated in a Uganda government legal battle with a UK-based Heritage Oil Company. In a press statement released on Thursday, Sarah Birungi Banage, the Assistant Commissioner Public and Corporate Affairs with […]
The Ministry of Finance has failed to give Parliament a final date when the Privatization Unit will wind up its operations although it was supposed to be closed by the year 2014. The MPs on the Public Accounts Committee Chaired by Angelina Ossege were questioning the ministry of finance for the diversion of 1 billion […]