CAA owed sh16b
Apr 01, 2005
THE Government owes the Civil Aviation Authority (CAA) an estimated sh16b.
By Isaac Kalembe
THE Government owes the Civil Aviation Authority (CAA) an estimated sh16b.
This was disclosed on Thursday by CAA managing director Ambrose Akandonda, while appearing before the parliamentary committee on works and communications.
“These are long-standing debts. The Government paid only sh4b of about sh16b in domestic arrears,†Akandonda told the committee chaired by Nathan Byanyima (Bukanga) during a meeting with finance state minister Mwesigwa Rukutana.
He said the main debtors were the Uganda Revenue Authority and the ministries of defence, foreign and internal affairs.
Akandonda appealed to the government to recapitalise the aviation body.
“We’re not a bankable institution. Our debt equity is 6:1 as opposed to the ideal 1:1 ratio. We’d like the CAA capital base to be improved so that the body can stop depending on the finance ministry,†he said.
He said most debts arose from the debt CAA inherited from the works ministry when the body was set up in 1991.
THE Government owes the Civil Aviation Authority (CAA) an estimated sh16b.
This was disclosed on Thursday by CAA managing director Ambrose Akandonda, while appearing before the parliamentary committee on works and communications.
“These are long-standing debts. The Government paid only sh4b of about sh16b in domestic arrears,†Akandonda told the committee chaired by Nathan Byanyima (Bukanga) during a meeting with finance state minister Mwesigwa Rukutana.
He said the main debtors were the Uganda Revenue Authority and the ministries of defence, foreign and internal affairs.
Akandonda appealed to the government to recapitalise the aviation body.
“We’re not a bankable institution. Our debt equity is 6:1 as opposed to the ideal 1:1 ratio. We’d like the CAA capital base to be improved so that the body can stop depending on the finance ministry,†he said.
He said most debts arose from the debt CAA inherited from the works ministry when the body was set up in 1991.