MP seeks to stop NSSF divesture
AN MP wants Parliament to stop the sale of the National Social Security Fund (NSSF).
By John Odyek
and Milton Olupot
AN MP wants Parliament to stop the sale of the National Social Security Fund (NSSF).
Martin Wandera, the worker’s MP, said NSSF had been placed in the Public Enterprise Reform and Divestiture’s (PERD) first schedule, which he said was a step nearer to its sale by the Government.
He said Parliament should remove NSSF from the PERD because the Government has no right to sell it as it belongs to workers.
In a motion on Thursday, Wandera said the Government did not own the NSSF alone and it had no right to sell it.
“Placing NSSF in Class 1 of the First Schedule of the PERD Act creates a window to transfer to any of the other classes namely Class II where the government can own 51% of the shares of a public enterprise, class III where the government can own 49% and class IV where the government can sell 100% shares of a public enterprise,†he said.
“NSSF was started and is run by workers contribution. It is, therefore, not under the sole ownership of the Government. President Yoweri Museveni recently directed for the immediate transfer of the NSSF to the finance ministry and the directive was executed on 24 September. There is need to assure workers that NSSF will not be sold off,†he said
He said the best form of assurance is by deleting NSSF from the PERD Statute.
The Minister of State for Finance, Isaac Musumba, said the Government intends to remove the fund from the PERD Statute.
and Milton Olupot
AN MP wants Parliament to stop the sale of the National Social Security Fund (NSSF).
Martin Wandera, the worker’s MP, said NSSF had been placed in the Public Enterprise Reform and Divestiture’s (PERD) first schedule, which he said was a step nearer to its sale by the Government.
He said Parliament should remove NSSF from the PERD because the Government has no right to sell it as it belongs to workers.
In a motion on Thursday, Wandera said the Government did not own the NSSF alone and it had no right to sell it.
“Placing NSSF in Class 1 of the First Schedule of the PERD Act creates a window to transfer to any of the other classes namely Class II where the government can own 51% of the shares of a public enterprise, class III where the government can own 49% and class IV where the government can sell 100% shares of a public enterprise,†he said.
“NSSF was started and is run by workers contribution. It is, therefore, not under the sole ownership of the Government. President Yoweri Museveni recently directed for the immediate transfer of the NSSF to the finance ministry and the directive was executed on 24 September. There is need to assure workers that NSSF will not be sold off,†he said
He said the best form of assurance is by deleting NSSF from the PERD Statute.
The Minister of State for Finance, Isaac Musumba, said the Government intends to remove the fund from the PERD Statute.