Asian Board to wind up in Dec
Sep 21, 2005
AFTER 32 years in operation, the Departed Asians’ Property Custodians Board is set to wind up by December.
By Mary Karugaba
AFTER 32 years in operation, the Departed Asians’ Property Custodians Board is set to wind up by December.
Started in 1973, with over 1,665 properties offered for sale, only 250 properties from remote areas of Kamuli, Mubende, Rakai and Soroti districts have not been sold off.
A finance ministry statement to the parliamentary committee on finance chaired by Bright Rwamirama (right), said recently that the remaining properties would be reverted to the Controlling Authorities. The statement said the properties in all major towns in Uganda have been disposed off either via repossession or sale.
It said 1,418 properties have been fully paid for with over sh13.1b collected, 248 partially paid with only sh791.5m and 248 properties with over sh149m yet to be paid.
AFTER 32 years in operation, the Departed Asians’ Property Custodians Board is set to wind up by December.
Started in 1973, with over 1,665 properties offered for sale, only 250 properties from remote areas of Kamuli, Mubende, Rakai and Soroti districts have not been sold off.
A finance ministry statement to the parliamentary committee on finance chaired by Bright Rwamirama (right), said recently that the remaining properties would be reverted to the Controlling Authorities. The statement said the properties in all major towns in Uganda have been disposed off either via repossession or sale.
It said 1,418 properties have been fully paid for with over sh13.1b collected, 248 partially paid with only sh791.5m and 248 properties with over sh149m yet to be paid.