• Contact Us
  • About Us
  • Advertise
  • Donate
  • Login
Watchdog Uganda
Advertisement
  • Home
  • News
    • National
    • Politics
    • World News
  • Business
    • Agriculture
    • Finance
    • RealEstate
    • Technology
  • Op-Ed
  • Entertainment
    • Lifestyle
    • Showbiz
  • Sports
    • Football
    • Motorsport
  • Special Report
    • Education
    • People
  • Travel
  • Video
  • Luganda
No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
  • Business
    • Agriculture
    • Finance
    • RealEstate
    • Technology
  • Op-Ed
  • Entertainment
    • Lifestyle
    • Showbiz
  • Sports
    • Football
    • Motorsport
  • Special Report
    • Education
    • People
  • Travel
  • Video
  • Luganda
No Result
View All Result
Watchdog Uganda
No Result
View All Result

Over Shs8 trillion lie idle in state coffers due to poor planning, says Minister Bahati

Stephen Kalema by Stephen Kalema
1 year ago
in Business, Finance
11 1
Bank of Uganda currency scandal will not affect our economy, says Bahati

Minister David Bahati

Share on FacebookShare on Twitter

The State Minister for Finance for planning David Bahati has said that over Shs8.15 trillion is sitting idle in the state coffers due to poor utilisation and management of huge and heavily capitalised infrastructure projects in the country.

Bahati who was giving his opening remarks during this year’s second national project management conference this week said that his ministry has fought by all means to secure loans for infrastructural development but because of the delayed procurement programs process, there has always been poor absorption of infrastructural funds.

According to Ministry of Finance figures, Uganda’s investment in infrastructure to Gross Domestic Product (GDP) is 12 per cent which is approximately Shs30 trillion.However, such figures can be changed if such money is well planned for.

Hill Water

“We have been able to mobilise close to Shs9.3trillion, by processing close to 23 loans through Parliament but out of them, only three have become effective in the last 12 months. This means that our coffers have close to Shs8.15 trillions ready to be utilised but it’s sitting idle,” he said.

He attributed the setback to lack of capacity to prepare the proposed projects in time and lack of adherence to edify code of ethics and other international standards.

He, however, said that the only way to curb this problem is to set a new procurement guideline policy that will manage challenges and taping the procurement period of three months.

“If it needs legislation please propose, I will take it the Parliament and have an institute or policy established by an act of Parliament, I don’t know what is hindering this? If you need the assistance I will work with you so that we can move this bill,” Bahati said.

 



Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com

Share2Tweet2Send
Previous Post

Salon Magazine: Reasons women won’t stop doing makeup

Next Post

Stop giving free medical services-Museveni tells Lira University Teaching Hospital

Next Post
Stop giving free medical services-Museveni tells Lira University Teaching Hospital

Stop giving free medical services-Museveni tells Lira University Teaching Hospital

Subscribe to Our Newsletter

Our news in your inbox. Subscribe to receive Watchdog Uganda news in your email at no cost.

Check your inbox or spam folder to confirm your subscription.

Facebook Twitter

Contact Information

Plot 23, Yusuf Lule Road
PO Box 7661 Kampala, Uganda
Office Line: +256 777 286 815
Email: editorial@watchdoguganda.com
To Advertise:Click here

© 2020 Watchdog Uganda

No Result
View All Result
  • Home
  • News
    • National
    • Politics
    • World News
  • Business
    • Agriculture
    • Finance
    • RealEstate
    • Technology
  • Op-Ed
  • Entertainment
    • Lifestyle
    • Showbiz
  • Sports
    • Football
    • Motorsport
  • Special Report
    • Education
    • People
  • Travel
  • Video
  • Luganda

© 2020 Watchdog Uganda

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In