Parliament approves loan request for Shs 1.7 trillion Loan to come from Standard Chartered Bank
Returned to Parliament
Chairman of the Committee, the Hon. John Bosco Ikojo and the Hon. Hassan Kirumira (NUP, Katikamu South) who presented the majority and minority reports respectively, were both uncomfortable with a clause that required
“The committee recommends that the Ministry of Finance renegotiate provisions for the waiver of sovereign immunity to avoid exposing critical government assets to creditors in the event of default,” Ikojo said.
Kirumira also instructed the Attorney General to do the same. “The Attorney General must renegotiate the terms of
The Shadow Finance Minister, the Hon.
Minister of State for Finance, the Hon.
On the interest payment for the ICIEC portion of the loan,
He also answered the question about waiving sovereign immunity. “The Attorney General will negotiate and conclude; what we are looking at are the funding conditions and all have been presented to
“Dear MPs, you are the ones who are going to raise issues of national importance about the state of roads and infrastructure in your area, how do you expect the government to fund these projects?” he said.
Defend the loan request before Parliament
© African Press Organization, source