Govt Seeks Shs 697.8 Billion Loan for Umeme Buyout
The government has requested a Shs 697.8 billion loan from Parliament to facilitate the buyout of Umeme, Uganda’s main electricity distributor.
State Minister for Finance in charge of General Duties, Henry Musasizi, presented the loan request during Tuesday’s parliamentary sitting, chaired by Speaker Anita Among.
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Speaker Among referred the request to the National Economy Committee for scrutiny before it is debated and passed by Parliament.
The proposed buyout is expected to pave the way for the government’s takeover of Umeme’s operations.
The company, which has been responsible for electricity distribution across Uganda, has played a key role in the country’s energy sector for years.
The government sees the buyout as a strategic move to strengthen Uganda’s energy sector and improve electricity distribution and supply.
However, the decision has sparked public interest, with many Ugandans eager to see whether the transition will lead to better service delivery.
As the National Economy Committee reviews the loan request, all eyes remain on Parliament to determine the future of Uganda’s electricity distribution.
