MPs query Bujagali’s $75m refund
Apr 20, 2009
THE $75m (about sh150b) paid back to the Government by Bujagali Energy Limited has not yet been transferred to the Energy Fund account.
By Mary Karugaba
THE $75m (about sh150b) paid back to the Government by Bujagali Energy Limited has not yet been transferred to the Energy Fund account.
The money was lent to the company to start the project in May 2007.
MPs on the public accounts committee recently asked officials from the finance ministry to move the money by April 30.
The money was refunded at the end of 2007.
“Why is it taking long to transfer it. We had a bad experience with the sale of the Uganda Electricty Board.
“The money disappeared under certain accounts?†committee chairman Nandala Mafabi asked.
The Accountant General, Gustavio Bwoch, said the ministry was in the process of the transfer, adding that part of the money was safe on the Escrow account controlled by the finance ministry.
“I have signed a letter and waiting for the permanent secretary’s signature to merge the two accounts,†Bwoch explained.
THE $75m (about sh150b) paid back to the Government by Bujagali Energy Limited has not yet been transferred to the Energy Fund account.
The money was lent to the company to start the project in May 2007.
MPs on the public accounts committee recently asked officials from the finance ministry to move the money by April 30.
The money was refunded at the end of 2007.
“Why is it taking long to transfer it. We had a bad experience with the sale of the Uganda Electricty Board.
“The money disappeared under certain accounts?†committee chairman Nandala Mafabi asked.
The Accountant General, Gustavio Bwoch, said the ministry was in the process of the transfer, adding that part of the money was safe on the Escrow account controlled by the finance ministry.
“I have signed a letter and waiting for the permanent secretary’s signature to merge the two accounts,†Bwoch explained.