Over 3000 Saccos miss out on PDM cash 

The Minister of State for Finance, Planning and Economic Development (Planning) Amos Lugoloobi, has revealed that 3,914 SACCOS under the Parish Development Model (PDM) programme did not benefit from the Shs17 million allocated to parishes across Uganda this financial year.

While presenting a report to Parliament on the status of PDM, Lugoloobi attributed this to non-readiness where the SACCOS did not register by 30 July 2022 but rather after the closure of the financial year; which prompted some of the revolving funds to be returned to the Consolidated Fund in accordance with the law.

He said the revolving funds that had been released to the local governments but were returned to the consolidated fund at the end of last financial year, will be provided to the respective parishes, upon validation of the PDM SACCOs registered.

"Additional funding shall be provided to ensure that each parish/ward receives the established shortfalls on the Shs17 million planned for the Financial Year 2021/2022, over and above the approved budget for the Financial Year 2022/2023," Lugoloobi said.

He said Shs139.38 billion out of the Shs234.3 billion appropriated by Parliament for PDM including supplementary funding was released, representing 60 per cent budget performance.

He stated that a total of 8,267 PDM SACCOs had been registered by 31 July 2022, under the registrar of cooperatives under the Ministry of Trade, Industry and Cooperatives, representing 78 per cent.

The SACCOS are registered under the Cooperative Societies Act.

Lugoloobi said that this allocation to the revolving fund that will serve 10,594 parishes across the country indicates that each parish will receive Shs100 million.

"These funds were appropriated to the Ministry of Finance, Planning and Economic Development, to enable direct disbursement of the revolving funds to the bank accounts of ready PDM SACCOS, upon validation and confirmation of the particulars of members,” the minister clarified.

.