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Thursday,November 22,2018 13:59 PM

UEB Assets To Earn Sh3b

By Vision Reporter

Added 10th June 2003 03:00 AM

UGANDA Electricity Board (UEB), a statutory company formed after the unbundling of three successor companies, expects to raise sh3b out of some of its holdings.

By Ricks Kayizzi
UGANDA Electricity Board (UEB), a statutory company formed after the unbundling of three successor companies, expects to raise sh3b out of some of its holdings.
Grania Rubomboras, the firm’s managing director, said that in accordance with the PERD statute, they are set to sell the remaining properties, which include residential houses, industrial buildings, vacant plots and land located in several parts of Uganda.
The properties are located in Hoima, Lira, Njeru, Soroti, Jinja, Tororo and Kampala. Officials from UEB will publicly open the bids on June 26 at in the boardroom at Amber House.
“The properties, which number to about 164, are to be sold by tender to current UEB staff, or former staff of UEB who served up to 31 March 2001 and are currently employed by successor companies,” she said
However, 35 properties, including Amber House and some houses in Jinja, will be retained. She said unless current and former employees fail to pay then the properties will be offered to the public.
tenants fail to pay for the property, we will eventually offer them to the public to buy,” she said in an interview Monday.
She said that the UEB board sat and agreed that sitting tenants take mortgages, and were therefore allowed to use the still unpaid pensions and terminal benefits to pay for the property.
Rubomboras stressed that the process has been transparent, and has involved government valuers, land surveyors, the Auditor General’s office and other stakeholders.
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UEB Assets To Earn Sh3b

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