MPs demand details on oil revenues.
Nov 10, 2011
MPS on the parliamentary ad-hoc committee on oil on Wednesday asked the Governor BOU to submit a formal write-up on oil revenues so far
By Josephine Maseruka
MPS on the parliamentary ad-hoc committee on oil on Wednesday asked the Governor Bank of Uganda to prepare and submit a formal write-up on oil revenues so far received and held by the central bank.
Tumusiime Mutebile had appeared before the seven-member committee with the Bank’s executive director for finance Patrick Kagoro armed with correspondences, to explain transactions so far made in the sector.
The Committee had summoned them to respond to several issues namely; the oil and gas sector revenues in relation to macro-economic stability and the oil revenue accounts in the bank.
They also wanted to know the mechanism of transferring funds from collection accounts to the consolidated fund account.
Mutebile said he had not formally written a presentation to the committee since he thought that the various communications in form of letters would be sufficient.
“I have all the communications here with me regarding the transfer of the oil revenue from the URA dollar Account to Bank of Uganda account,” he pleaded.
“I have all the communications here with me regarding the transfer of the oil revenue from the URA dollar Account to Bank of Uganda account,” he pleaded.
However Hussein Kyanjo said that most of them (MPs) were not experts in financial matters, they could only follow once availed figures.
“I would like to thank the governor for appearing before us but some of us are not experts in the oil and banking sectors. We need to give the Governor sometime to bring a write up so that we follow up the issues rather than reading a heap of letters,” he said.
He was supported by Cecilia Ogweal who said that for the benefit of all sides Mutebile had to make a formal presentation to the committee.
However Grace Freedom Kwiyucwiny , Joseph Matte and Julius Jujura were of the view that Mutebile being an experienced person could share with them some information and later on submit a formal presentation.
When Werikhe tried to get the right rules and procedure, Kyanjo said,” Mr. Chairman this is easy to resolve. We have no time for chatting. Let us not wait our time and that of the Governor. Let us not go with the legality and I request my colleagues to support the idea.”
Werikhe ruled that it would be very difficult to ask questions to the Governor without a formal presentation.
“We are not chasing you in bad faith but we want all presentations on record. You can take back all the heap of letters you have brought until you re-appear with a formal presentation.”
Mutebile replied,” I am very grateful for the views and I request you to come back on Tuesday morning when I am fully prepared to answer your queries.”
The committee, instituted by Parliament last month to investigate allegations of bribery, was given three months to compile a report.
The committee findings would help to improve the management of the oil sector.
Prime minister Amama Mbabazi, ministers Sam Kuteesa of foreign affairs and Hillary Onek of foreign affairs ; who was former for energy have been accused of receiving bribes from oil companies, an allegation they deny.