Government has poured scorn on allegations that 99.9 per cent shares of the revamped Uganda Airlines are owned by a powerful individual.
On Tuesday Soroti District Woman Member of Parliament Joy Atim Ongom told parliament that government owns a most negligible amount of shares in the national carrier.
“The share capital of Uganda National Airlines Company Limited is 200 million divided into two million shares. Of the two million shares, only two shares worth 200 belong to ministry of Works and Transport as well as ministry of Finance. This makes both ministries to be minority shareholders holding only 0.001% of the shares,” said Ongom.
The legislator further demanded that government tables before parliament, proof regarding ownership of Uganda Airlines as well as amending the MoU for government to be allocated majority shares that can be later floated to the public.
The revelation followed the Budget Committee’s approval of a Shs280 billion supplementary budget for the purchase of the first two Bombardier planes.
However, the Minister of Transport and Works Monica Azuba Ntege has on Wednesday told parliament that government fully owns all the two million shares.
She said no private individual has shares so far in the airline.
“I rise to inform this house that there are two shareholders- The Ministry of Works and Transport and the Ministry of Finance, Planning and Economic Development – each of which has been allotted one million shares, and this has been registered with the Registrar of Companies,” the minister said.
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