Ministry of Finance tightens grip on un productive governanment investments
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Government through the Ministry of Finance has pledged to ensure that public investments are delivered on time, within budget and are of good quality.
This was disclosed during
the launch of the revised development committee guidelines of the Ministry of Finance this afternoon, the Ministry of Finance informed the public that some government projects and investments gave had low returns and calling for careful scrutiny before embarking on future projects.
The revision of the Development Committee (DC) Guidelines comes at a time when the country is transiting to the Fourth National Development Plan (NDP IV) with an overarching strategy of growing the economy tenfold.
This requires expanding Uganda’s GDP from about USD 50 billion in FY 2022/23 to USD 500 billion by 2040.
in order to achieve the set objectives, the public investment efficiency gap needs to be bridged by ensuring that every shilling invested in public investments has a higher multiplier effect.
According to Hannington Ashaba,the Director budget planning at the ministry of Finance who represented the Permanent Secretary of the Ministry of Finance Ramathan Ggoobi, there is need to prioritize proper operation and maintenance of public assets .
