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Dairy Corp rejects deal

By Vision Reporter

Added 20th April 2005 03:00 AM

The Uganda Diary Corporation (UDC) board refused to sign a lease agreement with Pan African Foods (PAFL) due to suspicion, David Bigira, the corporation’s board chairman, said yesterday.

The Uganda Diary Corporation (UDC) board refused to sign a lease agreement with Pan African Foods (PAFL) due to suspicion, David Bigira, the corporation’s board chairman, said yesterday.

By Mary Karugaba
The Uganda Diary Corporation (UDC) board refused to sign a lease agreement with Pan African Foods (PAFL) due to suspicion, David Bigira, the corporation’s board chairman, said yesterday.

Bigira told the Parliament finance committee that PAFL was not registered with the registrar of companies.

Bigira said he was confused by the concurrent reference to the two companies in the proposed lease agreement (Malee Sampras and PAFL).

After visiting Malee Sampran Company in Thailand, privatisation minister Prof. Peter Kasenene told MPs that the Government had dropped the leasing process and adopted a more effective management contract process with a Thai businessman Chatchai Boonyarat.

But UDC managing director Charles Beisa opposed the government’s proposal, saying it would not solve the corporation’s problems.

He asked the Govern-ment to first inject money into UDC to make it more attractive to investors before divestiture.
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Dairy Corp rejects deal

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