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MPs Reduce Loan Request for Budget Support :: Uganda Radionetwork
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MPs Reduce Loan Request for Budget Support

According to an MP on the committee who preferred anonymity, they have considered only urgent and immediate needs and have slashed over 900 billion shillings to reduce the debt burden.
State minister for planning David Bahati appearing before National Economy Committee with others.

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Members of Parliament on the National Economy Committee have reduced the 6.5 Trillion Shillings loan request meant for budget support. 

The committee is finalizing its report on the proposal by Government to borrow a total of 6.5 trillion shillings from the domestic market and the International Monetary Fund -IMF to supplement the 45 trillion-shilling budget.

Although the money is meant for programs like support classified expenditure for State House and Ministry of Defence, Uganda Development Bank, Ministry of Health, Ministry of Trade and for recurrent domestic arrears, and for a bilateral road infrastructure project between Uganda and the Democratic Republic of Congo (DRC), Uganda Radio Network (URN) has learnt that this money has been slashed to 5.5 trillion shillings.

According to an MP on the committee who preferred anonymity, they have considered only urgent and immediate needs and have slashed over 900 billion shillings to reduce the debt burden. He said that hopefully, the unmet needs this time will be worked on in the next financial year.

“The report is ready, and we have reduced the loan request by close to 1 trillion, and now we will sit down together with the budget committee, especially because what they requested is not what we have approved before the matter can come to the house on Thursday,” the MP said.

Earlier last week while interacting with the Ministry of Finance officials led by David Bahati, the Minister of State, Committee chairperson Syda Bbumba asked the Minister to allow them to finance the projects in a phased manner.

During the meeting, the MPs had proposed to review the financing for the DRC road project from 200 billion shillings to 100 billion, while that of the radio for learners would be reduced from 336 billion shillings to 168.

Charles Ilukor the Kumi County MP says that a reduction in the loan request is the best thing to happen at the moment. He says several MPs have questioned the different projects and items that the loans are financing.

He says the radio project, for instance, is not ready especially on the side of the suppliers or manufacturers.

//Cue in: “It is going… 

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It is not clear which other additional items or projects have been affected.

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