When asked by the Finance Committee Chairperson Henry Musasizi to explain whether the FIA policy statement for the financial year 2019/2020 had complied with all requirements under the Public Finance Management Act, 2015 (PFMA), Tukei looked ignorant for five minutes leaving MPs wondering whether he was the right person to appear before the committee.
In their statement presented by Assistant Auditor General-Corporate Services, Francis Masuba, the OAG mentioned financial support received this financial year from four development partners including Financial Management and Accountability Programme III (FINMAP), European Union and German Cooperation (GIZ).
The bill now proposes that the board shall consist of five persons appointed by the minister from the private sector with sound knowledge and practical experience in business or investment matters. One of these shall be the chairperson. The other board members will be Permanent Secretaries from the ministry of Trade, Lands and Internal Affairs.
Francis Gimara, the ULS president told legislators that the retirement benefits sector is one of the most fragile sectors in the economy where strict regulatory and state control measures are required.