The Minister of State for Finance, Henry Musasizi, has clarified the allocation of Shs300 billion, addressing concerns that it was solely directed towards bailing out Roko Construction Company. Musasizi explained that the funds are intended for multiple purposes, including the management of government accounts by the Bank of Uganda and the overall payment of the Shs72 trillion national budget.
“The Shs300 billion is for obligations previously approved by Parliament. Roko preference shares are just one of them. The breakdown is as follows: Shs56.2 billion for Roko, as approved by Parliament; Shs200 billion for Bank of Uganda charges for managing government accounts and securities. This is the money that enables the government to pay the Shs72 trillion budget,” Musasizi stated on Twitter.
In contrast, MP Ssemujju Nganda criticized the move, highlighting that the Parliament had already allocated Shs270 billion to Roko Construction Company, a private entity. He expressed concerns about reallocating funds from critical areas like ambulances and regional referral hospitals to support Roko. Ssemujju cited previous statements by the President, suggesting that Roko’s historical contributions during the Luwero conflict were influencing the government’s priority.
