Members of the Budget Committee have asked the Committee of Tourism, Trade and Industry to examine the viability of investing Shs269 billion in several private enterprises through the Uganda Development Corporation (UDC).
The trade committee chairperson, Hon Mwine Mpaka, on Thursday, 20 January 2022 presented his committee report on the National Budget Framework Paper for the Financial Year 2022/23 - Financial Year 2026/27 before the Budget Committee.
According to Mpaka, under the manufacturing programme, the sector faces a shortfall of Shs548 billion in unfunded priorities of which Shs269.4 billion is required for the capitalisation of enterprises under UDC.
Some of the projects include; Shs 60 billion for road construction by capitalising two road construction firms, Shs10 billion for a cocoa processing plant in Bundibugyo district, Shs10 billion to the Masaka Fruit Factory, Shs21.9 billion for the expansion of the Soroti Fruit Factory and procurement of an orange line, Shs5.5 billion for coffee processing in the capital, Kampala, and Shs5.5 billion to the Soluble Coffee firm in Wakiso district to procure land and factory construction.
Others are Shs2 billion for Mabale Growers Tea Factory Ltd as working capital, Shs10 billion to Kyarushozi Tea for master planning and procurement of machinery, Shs1 billion for coffee grading and roasting in Masaka district, Shs30 billion for grains value addition, and Shs 50 billion to Moroto-Ateker Cement Factory for civil works among others.
Distributed by APO Group on behalf of Parliament of the Republic of Uganda.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
