The committee didn't give a chance to the officials led by Henry Musasizi, the Minister of State for Finance in Charge of General Duties, and the Deputy Secretary to Treasury, Patrick Ocailap to proceed because of presenting documents in faint print and extremely small font. The MPs noted that the documents were insufficient to inform the day’s deliberations and later on, a report to Parliament.
This is contained in the Ministry of Finance’s response to the issues raised by the Opposition in Parliament on the charter of fiscal responsibility for the financial year 2021/2022-2025/26. According to the list, individuals and private companies owe a sum of 137 billion Shillings while government entities owe 209 billion Shillings to the government.
The Pre-Election Economic and Fiscal Update issued by Moses Kaggwa, the Acting Director Economic Affairs says that the approved and disbursed loans led to a cumulative stock of 17.221 trillion in September, 2020.
The report, signed by Moses Kaggwa, the Acting Director of Economic Affairs says that the amount required by the various MDAs involved in preparation and conduct of the general election for the electoral roadmap from financial year 2019/2020 to financial year 2021/2022 is 1.255 trillion Shillings. The biggest share of this amount totaling 772.24 billion Shillings is under the Electoral Commission (EC).
Appearing before the Finance Committee on Wednesday chaired by Rubanda East MP Henry Musasizi, the Minister of State for Finance David Bahati was questioned about the continuous recapitalization of the Bank.