TOP
  • Home
  • Opinion
  • Tackling questions on privatised companies

Tackling questions on privatised companies

By Admin

Added 18th March 2016 02:42 PM

This week, the anti corruption coalition Executive Director Ms Cissy Kagaba penned a rejoinder. She is of course an activist but I did not know her to miss the bus on topical issues.

Jimmuganga 703x422

Jim Mugunga is a senior public relations officer and spokesman of the Ministry of Finance, Planning and Economic Development

This week, the anti corruption coalition Executive Director Ms Cissy Kagaba penned a rejoinder. She is of course an activist but I did not know her to miss the bus on topical issues.

By Jim Mugunga

Once again, as has been the case around this period in the politics of our country, we woke up to media reports last week to the effect that Parliament is expected to open a probe into “allegations of corruption and collusion in the sale of more than 130 public assets under the controversy-ridden privatisation policy.”  

 

This week, the anti corruption coalition Executive Director Ms Cissy Kagaba penned a rejoinder. She is of course an activist but I did not know her to miss the bus on topical issues. This time around she was out rightly wrong; her letter/ article had falsehoods and in bigger parts selectively cited parts of the law in an attempt to make the “point.” Her researchers must have let her down!

 

Whereas there is nothing wrong with “yet another probe” of the privatisation process if deemed necessary; it is tiring as it is frustrating to note that despite being one of the most documented and debated public sectors; there are persistent and deliberate distortions in relation to its governing laws, guidelines and outcomes.

 

The matter is not helped by some political actors and some in civil society organisations who either disregard bare facts in order to fulfil personal agenda or merely choose to pick on this otherwise historical venture and its related historical imaginary issues in order to settle political scores.

 

The so called questions on privatisation are therefore a mere smoke screen. At this point in our political journey they pop up. It is the political actors who pull this one out of the cupboard in order to rattle or silence opponents. Others merely deploy it to seek attention and or personal gain. My view, it’s a very tired one. Its sale by date is way past.

    

However, aware that there is a whole generation that is being deliberately misled by the sweeping statements about the “rotten, non transparent, non accountable and un-investigated” privatisation process; there is once again need to explain it all in general.

 

There has been multiple investigation of the privatisation process in recent times. The IGG and CID among them. These found no basis into what shaped the allegations and inquiries thereof. Many years ago however, there was a well publicised and focused probe by a select committee of Parliament.

 

The committee led by Hon Omongole dug deep into processes; sales, use of funds, individuals and companies involved in divestitures among others. It made findings; recommendations including operational and structural changes at the Privatisation Unit (PU).

 

The PU procedures and processes as well as the actual divestiture law were overhauled. Of course, the report held accountable those it faulted. It is part of the parliamentary record—the Hansard and is hence public and may therefore be accessed.

  

Other reports authored at the peak of the privatisation process include those by researchers, organisations and academicians. The Uganda Manufacturers Association commissioned an Impact Assessment of The Uganda Privatisation Program a specific study whose findings are on record; Hon William Okecho and the Adam Smith/Ernst &Young authored extensive reports on the process.

 

In addition, there are critical and highly informative reports by committees of Parliament to which the Ministry of Finance and the PU account. The committees include the Public Accounts; Finance, Economy and Statutory Authorities and State Enterprises (COSASE) among others.

 

The annual reports that emerge as the Auditor Generals’ Office undertakes their mandate is one such useful addition to a haul of literature available to interested parties to study.

 

This particular report; its comments and observations are part of the annual oversight role this specialised statutory government entity undertakes primarily on behalf of Parliament. It is wrong therefore for any commentators particularly among some civil society organisations to opt to use casual-desktop approaches to write; attempt to inform or pass judgement on the implementation of a process which is evidently so documented without recourse to available literature.

 

It wouldn’t be far fetched therefore for one to believe that the intention for such haphazard write ups is to post mileage that enhances their business sustainability of course at the expense of misinforming non suspecting Ugandans.

 

The above aside however, it is important to revisit the story of Privatisation now that the so called inquiries demand that we prove we have nothing to hide. The starting point is the reasons why government decided to undertake the privatisation process; why was it implemented in the manner it was and what is the status so far.

 

Background

In 1985, Government inherited a sick and almost collapsed economy that necessitated multiple approaches to resuscitate. The options that were considered included the promotion of the private sector to play an increased role in trade and investment which had hitherto become the monopoly of the state. Deliberate policies were put in place to trigger off the private sector led growth.

 

These included; liberalisation, privatisation and removal of restrictions on foreign exchange trade. The lump some of the above efforts, among others, resulted in the development of the very successful Economic Recovery Program (ERP) which took effect in 1987. 

 

In developing the ERP, government recognised the need to undertake a comprehensive reform of the Public Enterprises (PEs) in Uganda with a view of reducing their financial and administrative burden. The PE sector then constituted of 156 enterprises of which 133 were commercially oriented.

 

A total of 20 PEs were dormant but remained on government books while several others were completely non functional due to low capacity utilisation; lack of equipment; destruction or disrepair, un resolved ownership, operating losses, low productivity and outright lack of investment and operating capital.

 

Indeed by 1986, the Public Enterprises Sector was heavily dependent on State subsidies from the then overwhelmed treasury to remain semi-operational. Estimated subsidies in 1994 were Ushs.150 billion p.a. (8% of GDP) and yet its contribution to GDP at the time was only 5%. The sector also accounted for one third of the national external debt and servicing that debt was being met by the state.

 

Implementation of the Privatisation Process

In order to improve efficiency, reduce state subsidies, reposition the PEs as a key player in the economy and encourage private sector investment; in November 1992, Government published the Public Enterprises Reform and Divestiture Policy (Gazette No. 48) and the following year enacted the Public Enterprise Reform and Divestiture (PERD) Act. The purpose was to provide for the legal and institutional framework for implementing the Policy. A total of 113 Public Enterprises grouped in four (4) classes were specified in the Act for purposes of reform and divestiture as follows:

 

  • Class 1       [fully owned by government]                           16 PEs
  • Class 11     [majority shareholding by government]                   24 PEs
  • Class 111   [minority shareholding by government]                  10 PEs
  • Class IV     [fully privately owned]                                     46 PEs
  • Class V      [ liquidate]                                                          17 PEs

 

It is clear from the above that government had a clear approach to the privatisation process. Subject to reviews during implementation and technical evaluations; the intention was to partly privatise PEs in classes 11 and 111 while fully privatising those in class IV.  The task was delegated to a Sub-Committee of Cabinet, the Divestiture Reform and Implementation Committee (DRIC) with the Privatisation Unit functioning as its secretariat.

 

The reform and divestiture activities eventually necessitated the unbundling of the power and telecommunications sectors. This led to reclassification and corporatization of some government projects. The portifolio for divestiture hence increased.

 

To implement the privatization process, various methods were used and these included the following:

  • Auction
  • Concession
  • Debt Equity Swap
  • Initial Public Offering
  • Joint Venture
  • Liquidations
  • Management Buy Out
  • Pre-emptive rights
  • Repossession
  • Sale of Assets
  • Share sale

 

The general principle that informed the above methods was to allow various avenues through which broadening ownership by Ugandans would be achieved. Among the guidance that underpinned the above, is the principle to the effect that no specific class of potential purchasers will be excluded from participating from the divestiture process. The methods were to be conducted in an open and transparent manner. By deploying the above methods, it is on record that almost half of all divestitures (52 out of 135) completed so far were purchased and are owned up Ugandans. The bulk of the other half of the privatized companies were disposed of through joint ventures; shares sales or Initial Public Offerings. It is clear from the publicly available records that Ugandans in partnerships with foreigners took advantage of the above methods and extensively floated joint venture companies or took up shares in order to own the former PEs.

 

Probably the most obvious evidence of Ugandan citizen’s participation in the privatization process is through the Initial Public Offers (IPO) done via the stock exchange. Currently figures show that Ugandans are happier participants in the stock exchange founded and facilitated by the PU. The current capitalization of the stock exchange including cross listed companies is approx Ugshs24.7trillion. Domestic counters which account for almost 100% IPO and products related to the privatization process account for over Ushs 4.86trillion. This is in other wards the level of participation enjoyed by Ugandans and others who subscribe to the gains posted by our own securities exchange since it was established.

 

DIVESTITURE TRANSACTIONS AS AT  JUNE 30, 2014 BY METHOD OF SALE

 

Enterprise

Buyer

Date

Participant

Method

Price

 

UGX M) 

(USD Equiv. M)

1

Acholi Inn

Ms Laoo Ltd

May-95

Ugandan

Sale of Assets

           235

 

2

African Ceramics Co.

Muhindo Enterprises Ltd

May-96

Ugandan

Sale of Assets

              270

 

3

Hilltop Hotel

Three Links Ltd

May-95

Ugandan

Sale of Assets

             35

 

4

Hotel Margherita

Reco Industries Ltd

Aug-94

Ugandan

Sale of Assets

365 

0.4

5

ITV Sales

ROKO Construction

Dec-96

Foreign

Sale of Assets

            320

 

6

Lira Hotel

Showa Trade Company Ltd

Jan-95

Ugandan

Sale of Assets

            250

 

7

Masindi Hotel

Ottoman Engineering

Feb-00

Ugandan

Sale of Assets

198 

 

8

Mt. Elgon Hotel

Bugisu Cooperative Union

May-95

Ugandan

Sale of Assets

            650

 

9

Mt. Moroto Hotel

Kodet International

Nov-94

Ugandan

Sale of Assets

             40

 

10

NYTIL

Picfare Ltd

Mar-96

Foreign

Sale of Assets

        2,132

 

11

Rock Hotel

Swisa Ind. Ltd

Nov-94

Ugandan

Sale of Assets

300

 

12

Uganda Cement Ind. - Hima

Rawals Group of Industries

Dec-94

Foreign

Sale of Assets

20,500 

 

13

Uganda Cement Ind. - Tororo

Corrugated Sheets Ltd

Oct-95

Foreign

Sale of Assets

         5,900

 

14

Soroti Hotel

Speed bird Aviation Services

Jan-95

Ugandan

Sale of Assets

            150

 

15

Ug. Consolidated Properties

GoU

Apr-99

Ugandan

Sale of Assets

 16,174

9.0

16

Uganda Garment Industries

Phoenix Logistics Uganda Ltd.

Aug-00

Ugandan

Sale of Assets

850 

0.5

17

Ug. Leather & Tan’ng Ind.

IPS (U) Ltd

Jul-95

Ugandan

Sale of Assets

         1,646

 

18

Uganda Meat Packers (K’la )

Uganda Meat Industries Ltd

Aug-95

Ugandan

Sale of Assets

            674

 

19

Uganda Meat Packers-Soroti

Teso Agric Industrial Co Ltd.

Nov-97

Ugandan

Sale of Assets

            300

 

20

Uganda Spinning Mills, Lira

Guostar Enterprises (U) Ltd.

1999

Foreign

Sale of Assets

 n/a

 

21

White Horse Inn

Kabale Develop’nt Company

Aug-94

Ugandan

Sale of Assets

            600

 

22

White Rhino Hotel

Dolma Associates Ltd

May-95

Ugandan

Sale of Assets

            200

 

 

 

 

 

 

 

 

 

1

African Textile Mills

P.S. Patel

Mar-96

Ugandan

Share Sale

        1,400

 

2

Agip (U) Ltd

Agip Petrol International

May-96

Foreign

Share Sale

         1,675

 

3

Apollo Hotel Corporation Ltd.

MIDROC Ethiopia plc

Mar-01

Foreign

Share Sale

32,040 

18.0

4

Blenders (U) Ltd

Uniliver Overseas Holding BV

Aug-94

Foreign

Share Sale

494

 

5

Comrade Cycles (U) Ltd.

Uganda Motors Ltd.

Jan-97

Ugandan

Share Sale

0.00

0.00

6

East African Distilleries

Intern. Distillers & Vintners

Nov-92

Foreign

Share Sale

731 

0.6

7

Kibimba Rice Co. Ltd.

Tilda Holdings

Sep-96

Foreign

Share Sale

        1,524

 

8

Kinyara Sugar Works Ltd

Rai Holdings

Oct-06

Foreign

Share Sale

61,547 

33.5

9

Lake Victoria Bottling Co. Ltd

Crown Bottlers (U) Ltd

Feb-93

Ugandan

Share Sale

         6,460

 

10

Lake Victoria Hotel (PHASE 1)

Windsor Ltd

Aug-95

Foreign

Share Sale

         2,794

 

11

Lango Dev. Co.

Sunset International Ltd.

May-98

Ugandan

Share Sale

            100

 

12

Motorcraft and Sales Ltd.

Andami Works Ltd.

Sep-96

Ugandan

Share Sale

            200

 

13

N I C Ltd (60%)

Insurance Group of  Nigeria

Jun-05

Foreign

Share Sale

6,308 

3.6

14

PAPCO Industries Ltd.

Praful C. Patel

Feb-99

Ugandan

Share Sale

            100

 

15

SAIMMCO

Steel Rolling Mills Ltd.

Sep-99

Ugandan

Share Sale

            202

 

16

Stanbic Bank (U) Ltd.

SBIC Africa Holdings Ltd.

Dec-96

Foreign

Share Sale

         6,939

 

17

Total (U) Ltd

Total Outre Mer

Mar-96

Foreign

Share Sale

         5,646

 

18

Transocean 1998 (U) Ltd

Coin Ltd.

Jul-01

Ugandan

Share Sale

           361

 

19

TUMPECO

GM Company Ltd

Aug-94

Ugandan

Share Sale

         1,129

 

20

Uganda Commercial Bank

Stanbic Bank

Feb-02

Foreign

Share Sale

       21,900

 

21

Uganda Fisheries Enterprises

Nordic-African Fisheries Co.

May-95

Foreign

Share Sale

1,100 

1.1

22

U G M Co.(Phase 1)

Greenland Investments Ltd

Dec-96

Ugandan

Share Sale

         5,336

 

23

Uganda Industrial Machinery

F.B. Lukoma

May-97

Ugandan

Share Sale

                7

 

24

Uganda Pharmaceuticals Ltd.

Vivi Holdings

Jul-96

Foreign

Share Sale

         1,528

 

25

Uganda Telecom

Detecom

Jun-00

Foreign

Share Sale

50,975 

33.5

 

 

 

 

 

 

 

 

1

Agricultural Enterprises Ltd

C D C

Oct-93

Foreign

Joint Venture

12,700 

 

2

NEC Pharmaceuticals Ltd.

Haupt Groupe

Dec-99

Foreign

Joint Venture

 

1.5

 

 

 

 

 

 

 

 

1

Associated Match company

Madhvani Group

Jun-01

Foreign

Pre-emptive right

                0

 

2

Bank of Baroda

Bank of Baroda (India)

Jun-99

Foreign

Pre-emptive right

         2,500

 

3

Barclays Bank of Uganda Ltd

Barclays Plc

Oct-98

Foreign

Pre-emptive right

         5,000

 

4

BAT Uganda (PHASE 1)

BAT Investments Ltd.

Sep-99

Foreign

Pre-emptive right

 

7.0

5

ENHAS

Efforte Corp, G/Airlinks & SN

Apr-98

Ugandan

Pre-emptive right

4,300 

3.8

6

Kakira Sugar Works

East African Holdings Ltd.

Jul-00

Foreign

Pre-emptive right

         3,500

 

7

Lake Victoria Hotel Ltd (Ph. 2)

The Windsor Ltd.

Aug-00

Foreign

Pre-emptive right

 2,962

1.8

8

Rwenzori Highland Tea Co.

Finlays Groups

May-02

Foreign

Pre-emptive right

       1,450

 

9

Steel Corporation of E A Ltd

Muljibhai Madhvani & Co. Ltd

Jul-00

Foreign

Pre-emptive right

   363

 

10

Uganda Libyan Arab Holding

Preemptive

Apr-08

Ugandan

Pre-emptive right

1,685

 

11

Sugar Corpn. of Uganda Ltd.

Mehta Group

Dec -09

Foreign

Pre-emptive right

1,720

 

12

Cable Corporation

Mehta Group

Dec - 09

Foreign

Pre-emptive right

1,720

 

13

UGMA Eng. Corporation

Mehta Group

Dec -09

Foreign

Pre-emptive right

1,440

 

 

 

 

 

 

 

 

 

1

BAT Uganda (PHASE 2)

Public

Jun-00

Ugandan

I P O

         4,609

 

2

 DFCU Bank

Public

Jul-04

Ugandan

I P O

       10,100

 

3

New Vision P & P Co  (20%)

Public

Sep-04

Ugandan

I P O

         9,200

 

4

Uganda Clays Ltd.

Public

Oct-99

Ugandan

I P O

         1,460

 

5

National Insurance Company

Public

Mar-10

Ugandan

I P O

7,270

 

 

 

 

 

 

 

 

 

1

Dairy Corporation Ltd

Sameer Agric. & Livestock

Aug-06

Foreign

Concession

 

0.5

2

Mweya Safari Lodge

Madhvani Group

Aug-95

Ugandan

Concession

         1,821

 

3

Nile Hotel International Ltd

Serena Tourism Promotion Svs

Jan-04

Foreign

Concession

2,340 

1.2

4

Second National Operator

MTN

Mar-98

Foreign

Concession

6,664 

5.0

5

Ug. Electricity Distribution Co

Umeme

May-05

Foreign

Concession

10,765 

1.4

6

Uganda Electricity Generation

Eskom Enterprises

Nov-02

Foreign

Concession

993 

0.5

7

Uganda Railways Corporation

Sheltam Railway Company

Oct-05

Foreign

Concession

3,479 

2.0

8

Uganda Seeds (Kasese)

Lease/concession

Sep-05

Ugandan

Concession

        326

2.0

9

Ug. Seeds Masindi & Kisindi

Lease/concession

Sep-05

Ugandan

Concession

            273

 

10

ULI Ltd - Kiryana Ranch

Ziwwa  Ranchers

May-02

Ugandan

Concession

            850

 

11

ULILtd - Kyempisi Ranch

Royal Ranchers Ltd

May-05

Ugandan

Concession

            391

 

12

Kilembe Mines Limited

Tibet Hima

Sept-13

Foreign

Concession

 

4.0

 

 

 

 

 

 

 

 

1

Foods & Beverages Ltd

James Mbabazi

May-96

Ugandan

Auction

            670

 

2

Fresh Foods Ltd

Eddie & Sophie Enterprises

May-96

Ugandan

Auction

                1

 

3

K’la Auto Centre Gomba M.

Management

Nov-95

Ugandan

Auction

         110

 

4

Republic Motors

Rafiki Trading Company

Dec-95

Ugandan

Auction

            902

 

5

Uganda Hire Purchase Co.

Tadeo Kisekka

Nov-95

Ugandan

Auction

              24

 

6

Winits (U) Ltd

EMCO Works Ltd

Oct-95

Ugandan

Auction

            103

 

 

 

 

 

 

 

 

 

1

Gov’ Central Purchasing Corp.

Management and Employees

Jul-00

Ugandan

M B O

        1,090

 

2

Printpak (U) Ltd

Cancelled-Assets owner -  Lonhro

 

Ugandan

M B O

               0

 

3

Uganda Hardwares Ltd

Management

Oct-95

Ugandan

M B O

         29

 

4

Uganda Motors Ltd

Management

Nov-95

Ugandan

M B O

       804

 

 

 

 

 

 

 

 

 

1

NH & C C

Libyan Arab Foreign Inv’nt

Jun-05

Foreign

Debt-Equity Swap

 

20.3

2

Shell (U) Ltd

Shell Petroleum Co. Ltd

Dec-92

Foreign

Debt-Equity Swap

    12,790

 

 

 

 

 

 

 

 

 

1

Nile Breweries Ltd

Madhvani Group

Apr-92

Foreign

Repossession

       731

 

2

Ug. American Insurance Co.

American Life Insurance Co.

Nov-92

Foreign

Repossession

 n/a

 

3

Uganda Crane Estates Ltd.

Buganda Kingdom

Jun-97

Ugandan

Repossession

 n/a

 

4

Uganda Securiko Ltd

Securiko (U) Ltd

Aug-93

Foreign

Repossession

 n/a

 

5

Uganda Tea Corporation

Mehta Group

May-94

Ugandan

Repossession

 n/a

 

 

 

 

 

 

 

 

 

 

Total transactions

96

 

 

 

 

 

 

Liquidations/Strike Offs

39

 

 

 

 

 

 

Total divestiture transactions

135

 

 

 

 

 

 

Proceeds

As may be seen from the table above, by end of last year, a total of 135 divestiture transactions were concluded. Liquidations and companies struck off the register were 39. From a total 96 PEs therefore, the process so far has generated Shs640, 314bn. Divestiture costs including settlement of terminal benefits total Shs. 567,186bn.  An additional Shs. 48,060bn was contributed towards the Energy Fund. The outstanding liabilities majority of which are terminal benefits’ claims largely premised on legal claims total Shs239, 125bn. The entire accountability process for the resources generated and spend by the PU is the subject of annual audits and its related audited reports are on record with Parliament of Uganda.

 

Outstanding

A total 25 PEs remains to be divested in accordance with the PERD ACT. There has been efficiency and performance improvement that have been registered in some of these companies as a result of rigorous reforms and performance monitoring. There is an on-going process to rationalize; reclassify and reposition some entities in line with new national policies and interests. Companies that fall under this category despite being in the PERD ACT include National Water and Sewerage Corporation, National Enterprise Corporation, Uganda Air Cargo and Uganda Development Bank among others.   

 

Other benefits

The achievements of the policy may be analysed from two broad aspects. The Micro level achievements that focus on the improved performance of the divested and/or reformed enterprises and the Macro level impact that looks at the contribution of the policy to other areas of the economy.

 

Micro level

As earlier stated, 96 divestitures have to date generated Shs640, 314bn. In addition, government role in commercially oriented Public Enterprises has substantially reduced hence increasing private sector participation. The process has also brought in some proceeds that are being applied to settle part of the sector’s liabilities.

Privatised Public Enterprises capital investment has greatly increased due to major investments made after divestiture. The Telecommunication Sector for example has attracted over USD 850 million in investments in both post and telecom infrastructure. Similar trends have been noted in the transport, hospitality, agricultural and industrial sub sectors. At the enterprise level, this is a major shift from the situation where public enterprises had to seek government funding to meet their operating expenses.

 

Efficiency and production improvements were registered in the majority of the sectors. There is clearly documented evidence in the agricultural sector, hotels, banking and the telecommunication and communications services sector. The 2010/11 Posts and Telecommunications Market Review Report by Uganda Communications Commission indicated that the share contribution of the two arms of the subsector to GDP increased from 5% in 2009/10 to 6% during 2010/11. That level of contribution to GDP is higher than what the entire Public Enterprises Sector was contributing to GDP at the inception of the Policy.

 

In addition to cutting down on the sector’s dependence on the National budget, Privatised and reformed enterprises contribution to financing the government budget through payment of taxes that has gone up. Taxes paid by the privatised enterprises account for approximately 70% of the top taxpayers in the country. These are either divestitures, liberalisation and or, reformed enterprises.

Macro level

The implementation of the policy has also had profound positive impact on macro aspects of the economy:

 

Private sector development

Liberalisation of the sectors that had hitherto been state monopolies resulted into increased competition and benefited the emerging private sector in terms of improving their performance particularly in the services, agro-processing and manufacturing sectors. As a result of the dismantling of price controls, commercialization of Public Enterprise activities and their eventual privatization, the Ugandan consumers have also benefited from the availability of increased variety and higher quality of goods and services at more affordable prices.

 

Along side acting as a key catalyst for Foreign Direct Investments, the privatisation process has acted to deliberately ensure spread of ownership of Public Enterprises amongst Ugandans. The process facilitated the establishment of the Capital Markets Authority (CMA) and Uganda Securities Exchange (USE) in Uganda. The Program has supported growth of capital markets in Uganda from a maiden market capitalisation of UGX 1.46 billion in 1999 to the current capitalisation of UGX 12.7 trillion as at end June 2011.

         

Improved management and accountability

Public Enterprise restructuring has led to improvements in management as well as service delivery and accountability. A number of privatised enterprises have complied with strict accounting and reporting standards qualifying them to list on the stock exchange while those that are still under government control have had their accounts brought up to-date and most public enterprises now have fully constituted and functioning boards.

 

The reforms in various sectors (formerly controlled by quasi monopoly Public Enterprises) have resulted in the establishment of autonomous regulatory agencies. The agencies are playing the role independent amperes in setting rules for market players and in the process safeguarding and promoting standards and stakeholder interests.

 

The role of Parliament

It is in order to point out that whereas the privatization process was an initiative of the executive in the formative years, it is well documented that at the peak of its implementation Parliament was a key participant through the cabinet subcommittee, DRIC. Prominent Members of Parliament namely Musumba and Mwandha played a key role and guided divestiture decisions and implementation until the operating procedures were reviewed by the same Parliament in the year 2000. Parliament introduced divestiture guidelines which are currently part of the PERD ACT.

 

The writer is a senior public relations officer and spokesman of the Ministry of Finance, Planning and Economic Development

Related Articles

More From The Author

Related articles