CAA Seeks Sh22b Debt Swap
Sep 22, 2002
Government is considering swapping a sh22b outstanding debt owed to the Civil Aviation Authority (CAA) with grants, Arthur Isoke, the CAA director for finance has disclosed.<br>
By Ricks Kayizzi
Government is considering swapping a sh22b outstanding debt owed to the Civil Aviation Authority (CAA) with grants, Arthur Isoke, the CAA director for finance has disclosed.
“This debt is long over due and has gone a long way to holding back our development plans. We now want to settle this issue with Government once and for all,†he said,
Isoke was briefing members of the Public Relations Association of Uganda (PRAU) at Entebbe International Airport last Friday.
Government accumulated the debt between 1991 and 2002, ranging from airport clearance fees and use of airport facilities by the Ministry of defence, among others.
Isoke said most of CAA’s problems arose out of Government’s on-lending policy in which grants obtained by Government from its development partners were passed on to the CAA as loans.
“Now we want Government to reciprocate this gesture by co-operating
so that they pass grants onto us, to enable us write off outstanding debts of the same amount,†he said.
Isoke said that they are in advanced stages of settling the issue through the finance ministry.
“We have made submissions to government, through the ministry of finance and other related organs, and their response has been good. We are soon making book adjustments to accommodate this short fall,†he said. Ends
Government is considering swapping a sh22b outstanding debt owed to the Civil Aviation Authority (CAA) with grants, Arthur Isoke, the CAA director for finance has disclosed.
“This debt is long over due and has gone a long way to holding back our development plans. We now want to settle this issue with Government once and for all,†he said,
Isoke was briefing members of the Public Relations Association of Uganda (PRAU) at Entebbe International Airport last Friday.
Government accumulated the debt between 1991 and 2002, ranging from airport clearance fees and use of airport facilities by the Ministry of defence, among others.
Isoke said most of CAA’s problems arose out of Government’s on-lending policy in which grants obtained by Government from its development partners were passed on to the CAA as loans.
“Now we want Government to reciprocate this gesture by co-operating
so that they pass grants onto us, to enable us write off outstanding debts of the same amount,†he said.
Isoke said that they are in advanced stages of settling the issue through the finance ministry.
“We have made submissions to government, through the ministry of finance and other related organs, and their response has been good. We are soon making book adjustments to accommodate this short fall,†he said. Ends