JUST IN. Parliament Approves Request By Government To Borrow £162 Million Loan From China, To Facilitate Power In Industrial Parks In Uganda.

David Bahati addresses media.

Parliament has approved a request by government to borrow up to Euro162 million from the Industrial and Commercial Bank of China (ICBC) to finance supply of power to industrial parks.

The loan was approved during the plenary sitting chaired by Deputy Speaker, Jacob Oulanyah on Thursday, 30 January 2020.

The loan according to State Minister for Finance in charge of Planning, Hon David Bahati is aimed at boosting the private entrepreneurs to put up factories, one of the key targets of Uganda’s National Development Plan III.

Bahati explained that there are already factories such as those in Kapeeka and Mbale Industrial parks awaiting power to take off.

“If you go to Kapeeka, Mbale or Sukulu industrial parks , factories are ready; they need power to industrialize our country,” he said adding that, “yesterday, we debated in support to industrialize the private sector when we honoured Amina Hersi. This is one way to industrialize our country.”

He said the loan will enable government to establish power substations to supply the already gazetted industrial parks of Kapeeka, Wobulenzi and Kaweweta in Luwero district, Sukulu in Tororo district, Nakasongola district and Mbale.

The project will be implemented by Uganda Electricity Transmission Company Ltd (UETCL) through China CAMC Engineering Co. Ltd.

Presenting a report of Parliament’s Committee on National Economy on the loan request, the Chairperson, Hon Syda Bbumba, said that they were satisfied with terms and conditions of the loan.

“We are ready to move, there is evidence that technical teams are ready, there is the irrevocable commitment of government to honor their 15 percent of the required project funds, the industrial parks have constructed factories and investors are demanding power” said Bbumba.

Bbumba was however, concerned with the slow disbursement rate of existing loan projects under UETCL saying loans acquired as far back as 2013 have very low disbursement rates.

She cited the Entebbe – Mutundwe Transmission Line Project where the loan committed in October 2013, had a loan disbursement rate of zero percent as of June 2019.

The Deputy Speaker, Jacob Oulanyah said that prolonged power blackout in Gulu was causing unrest in the region.

“Why is it that in Gulu people are living without power for months? People are running their small industries on diesel,” said Oulanyah adding that, “we have had demonstrations in the north and it has caused us problems and the same problem is in the West Nile.”

This, Bahati explained will be settled using funds approved by Parliament last year to fix power shortages in Northern Uganda.

Comments

UGANDA ELECTORAL COMMISSION TO ELIMINATE NATIONAL IDENTIFICATION CARDS (IDs) FOR 2021 GENERAL ELECTIONS.

The elimination of using National IDs (Ndagamuntu) for the 2021 elections should not have come as a surprise. One would be very NAIVE to think that Bobi Wine has not prepared for this in his Business Plan under the RISK section. It is public knowledge that our EC is not independent. It is also public knowledge that Military Dictator Yoweri Museveni will never lose an election. What stunned us this morning is when we noticed that on social media, people were mocking Bobi with his "get your Ndagamuntu". We are on record for saying to all Our readers that the National ID is like Apartheid in South Africa. Students of History would know how those IDs were being used to arrest people, deny them jobs, deny them basic services. Consequently, Bobi was not wrong and will never be wrong on the Ndagamuntu. Except the ones attacking him and mocking him forget that in Uganda, now, no National ID (Ndagamuntu), no service. If you have not been denied registering your child i...

Here is Why Our Utterances For Praying Jesus And God To Come Liberate Ugandans, May Be Misplaced. This Phrase is like inform of a Letter To Some Categorized Section Of Ugandans.

https://m.facebook.com/yusufosuta/photos/a.1896701010557789/2070383359856219/?type=3 OPEN LETTER TO NRM SUPPORTERS - NATIONAL ROBBERS MOVEMENT. .................................................................................. Last week of March, a friend told me to pray for Uganda. I told him that he was an Idiot and we have prayed for too long and we are still hungry and sick and Jesus is not coming soon to liberate us. He then ignored the STUPID and sent me a picture we all now know. It got me totally messed up. This guy was telling me to pray then sends a picture of men bowing down in blood. He might have meant guns but I blocked him because his utterances of praying for Uganda were misplaced. I unblocked him 3 weeks later and asked him about praying and assassinations. His reply "eithrr prayers or guns or both". I hate violence with a passion. So he is now blocked in like FOREVER. Do you feel safe? Do not feel safe. Uganda regim...

CAN I CHANGE MY MIND ABOUT THE INHERITANCE I RECEIVED AND ASK FOR SOMETHING ELSE ?.

#iip_updates . #Information_is_Power . Read more here https://informationispowah.blogspot.com/2023/07/can-i-change-my-mind-about-inheritance.html in the link. #we_inform_the_uninformed . Okello lost his wife 20 years ago and decided to only focus on their Mateo, Yona and Yosefu. 20 years later, Okello had 7 acres of land, a successful poultry business, and sinotrucks for hire. Early this year, Okello got a call telling him that one of his trucks knocked a boda boda. Okello decided to rush to see if he could sort it out before police became involved. Unfortunately, he never made it, as he was entering the main road, another trailer rammed into him and killed him instantly. After Okello had been laid to rest, his sons sat down and divided the property amongst themselves. However, of late, Yosefu the last born has started complaining that he was cheated, and he wants to be given something else because most of the chicken in the chicken business died of a fever. Can ...

Osuta Yusuf

Search This Blog