By mid-day Friday, the exchange rate had further fallen to 3,550.8 buying and 3,560.8 selling, reflecting a shilling appreciation of 5.3% from the same period last year.
He cautioned that many masqueraders have made themselves too available and effective to the business community that it’s hard for the association to know who the real importers are, but hastened to add that clearing agents should only be those that are licensed by the Uganda Revenue Authority.
Parliament on Friday passed a 44.77 trillion Shillings National Budget under which allocations to the Agricultural sector were drastically cut from 1.3 trillion in the current financial year to 799 billion in the new one.
Government plans to collect 22.63 trillion Shillings with over 20.83 trillion coming from tax revenue in the coming financial year 2021/2022. This is to help finance the 44.77 trillion Shillings budget passed by parliament today, of which 38% is going for debt servicing.
Amos Lugoloobi, the chairman of the Budget Committee of Parliament said, in a report presented to Parliament today that the Uganda National Roads Authority-UNRA, Uganda Police Force and Electoral Commission account for the agencies with the biggest unspent balances.
Uganda has 10,594 parishes and the Parish Development Model -PDM is a strategy for organizing and delivering public and private sector interventions for wealth creation and employment generation at the parish Ievel as the lowest economic planning unit.
The debate comes on the backdrop of an operation by the URSB, accompanied by police officers in shops in Kiyembe Lane, Nakasero where a number of items branded Harvel were confiscated on Tuesday. The traders say that the operation against five shops confiscated all electronics including main switches, circuit breakers and changeovers manufactured by Harvel plastics in Dubai.
According to UNBS, the uptake of standards among manufacturers is still wanting and now they want to ensure that the upcoming manufacturers are supported and empowered to know the importance of standards.
In the report presented by PAC Chairperson Nathan Nandala Mafabi, the laws establishing the two entities should be amended to ensure that NDA effectively performs its supervision role over NMS.
Nandala observes that, the General Manager of NMS is a board member of NDA and likewise, the Chairperson of NDA Board is a board member of NMS.
“The Policy focuses on addressing the gaps identified in the National Industrial Policy of 2008 and puts in place strategic measures to optimally benefit from the emerging opportunities, e.g. the AfCFTA,” says the Ministry of Trade, Industry and Cooperatives.
Legislators have this afternoon approved parliament’s Public Accounts Committee- PAC Central Government report recommending that the monopoly of National Medical Stores- NMS be stopped.
Nathan Nandala Mafabi, the PAC Chairperson said that NMS does not manufacture uniforms and the reason to contract them defeats the purpose. He says that the uniforms were never delivered on time and if delivered, they were not the right quality, quantity, size and wrong distribution.
Nandala notes that NMS does not manufacture uniforms and the reason to contract them defeats the purpose.
According to the traders, police and Uganda Registration Services, Bureau-URSB officials arrested Waswa on Tuesday evening for allegedly obstructing the arrest of some traders accused of selling products that are meant to be distributed by an unidentified importer.
The new loan request is in the excess of 101.05 billion of government’s initial need. The Kampala-Malaba railway connects Uganda’s capital with Kenya at the Malaba border.
Kiggundu's lawyers led by Fred Muwema told journalists shortly after the court ruling that they will proceed to the Supreme Court, East African Court of Justice and Kenyan Courts to challenge the issues arising from their case.
In an apologetic mood, Byarugaba admitted that they have not performed to the expectation of Ugandans as per the promises of constructing low-cost houses. Currently, the cheapest so-called low-cost house in NSSF-developed estates goes for 120 million Shillings to 150 million.
The approval of the taxes was during a plenary session chaired by Speaker Rebecca Kadaga. The taxes are to come into effect on 1st July 2021 when the new financial year 2021/2022 starts.
Parliament on Monday declined to approve the External Trade (Amendment) Bill, 2021 under which government proposed to levy US Dollars 0.4 per kilogram of exported maize brand, wheat bran, cotton cake and different by-products of the milling industry.
The acquisition sees I&M take 90% of the bank from UK-based investment group 8 miles LLP and Morka Holdings Limited, a financial company registered in Mauritius.
