Parliament’s Committee on Commissions, Statutory Authorities, and State Enterprises – COSASE has directed the Ministry of Finance to expedite payment of 69.5 Billion Shillings it owes to the Uganda Railways Corporation.
In 2013, the Government resolved to sell some of the URC’s properties identified as non-core assets to sustain the operations of the entity and settlement of its long-term liabilities.
The assets that included 57 acres of the Corporation’s land were sold at 69.5 Billion Shillings by the Uganda Land Commission – ULC to private developers. However, nearly a decade ago after the exercise, the money has never been paid to URC’s account.
The Committee summoned the Finance Minister, Matia Kasaijja to explain why the URC has never been paid its money.
Committee chairperson Joel Ssenyonyi explained that URC is undergoing management and financial difficulties yet the money that would recapitalize it was never remitted.
Evelyn Anite, the State Minister for Finance in charge of Investment and Privatization committed before the MPs that the money will be included in the next Financial Year budget pending appropriation by Parliament.12PM
