The government wants to borrow UGX386 billion to build oil highways.
The government has presented a request to parliament for a loan of 386 billion shillings to upgrade oil roads in the Albertine Graben.
The government has presented a request to parliament for a loan of 386 billion shillings to upgrade oil roads in the Albertine Graben.
The Masindi-Biiso road is 54 kilometers long, the Hohwa-Nyairongo-Kyarushesha-Butole route is 25 kilometers long, and the Kabaale-Kiziranfumbi road is 25.7 kilometers long.
The money is being sought from the China Construction Bank Corporation, according to Government Chief Whip Thomas Tayebwa, who told parliament on Wednesday.
The China Railway Seventh Group Company Limited began construction on these routes in April 2019. It entails road widening, light grading, and the opening up of drainage structures, offshoots, drainage drifts, pothole filling, rock blasting, base course and concrete aggregate crushing, excavation, and topsoil cleaning.
However, Lwemiyaga County MP Theodore Ssekikubo questioned why all Ministers of Finance were not present in the House to submit the government’s borrowing request.
“I have seen that committing the government to borrow such large sums of money is a very serious matter.” “We have five finance ministers on the docket, but they are all absent,” Ssekikubo remarked in part.
He expressed concern about the absence of all finance ministers, claiming that this would make it difficult to conduct business in parliament.
Speaker of Parliament Jacob Oulanyah asked Government Chief Whip Tayebwa to explain where the ministers are. Tayebwa said the finance ministers are meeting with President Yoweri Museveni about the Budget Framework Paper for the coming financial year, which is set to be tabled before the House on Tuesday next week.
Oulanyah referred the loan request to the National Economy Committee of Parliament for quick consideration and a report.