March 2, 2024

COSASE faults finance minister, civil aviation for unfavorable loan agreement

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Joel Ssenyonyi COSASE chairperson

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KAMPALA

The Parliamentary Committee on Commissions, Statutory Authorities, and State Enterprises (COSASE) have faulted the Finance Minister Matia Kasaija and the Uganda Civil Aviation Authority (UCAA) for dragging the country into a huge financial constraint while agreeing a $200m loan for the expansion of Entebbe International Airport.

The committee report presented to parliament by the committee chairperson, Nakawa West mp Joel Ssenyonyi stated that the Minister of Finance, Planning and Economic Development Matia Kasaija, should be cautioned and apologize to the country for his role in this unfavorable loan agreement.

The report shows that due diligence on loan financing terms should always be made before signing loan agreements by the Government to avoid fatal clauses which become a liability to the taxpayer.

COSASE report also recommends that government entities occupying premises at the airport pay all outstanding rental arrears

SOURCE: KFM NEWS

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