Arrest and prosecute Kananathan, says UPC
Oct 25, 2006
TRI-Star Apparels chief Velupillai Kananathan should be arrested for mismanaging the company, the UPC has said.
By Charles Ariko
TRI-Star Apparels chief Velupillai Kananathan should be arrested for mismanaging the company, the UPC has said.
Prof. Patrick Rubaihayo, the Uganda People’s Congress (UPC) national chairman, yesterday said Kananathan and all those who were involved in running down the company should be made to answer for its collapse.
“Kananathan should have been arrested yesterday. He should have been in Luzira Prisons by now. What is the government waiting for?†Rubaihayo asked during a press briefing at Uganda House in Kampala.
He said a lot of taxpayers’ money was sunk into the project, also known as AGOA, that is reported to have collapsed.
Among the incentives that the government gave Tri- Star at its launch in 2003 was a guarantee of $5m (about sh9.5b) loan from the Uganda Development Bank.
The Government also waived taxes on Tri-Star’s machinery imports, offered free premises and contributed substantial subsidies towards the training of over 1,400 workers (AGOA girls).
Government also pledged to pay 71.5% of all taxes on railway charges for all the company’s raw materials and finished products to and from Mombasa Port.
TRI-Star Apparels chief Velupillai Kananathan should be arrested for mismanaging the company, the UPC has said.
Prof. Patrick Rubaihayo, the Uganda People’s Congress (UPC) national chairman, yesterday said Kananathan and all those who were involved in running down the company should be made to answer for its collapse.
“Kananathan should have been arrested yesterday. He should have been in Luzira Prisons by now. What is the government waiting for?†Rubaihayo asked during a press briefing at Uganda House in Kampala.
He said a lot of taxpayers’ money was sunk into the project, also known as AGOA, that is reported to have collapsed.
Among the incentives that the government gave Tri- Star at its launch in 2003 was a guarantee of $5m (about sh9.5b) loan from the Uganda Development Bank.
The Government also waived taxes on Tri-Star’s machinery imports, offered free premises and contributed substantial subsidies towards the training of over 1,400 workers (AGOA girls).
Government also pledged to pay 71.5% of all taxes on railway charges for all the company’s raw materials and finished products to and from Mombasa Port.