The Member of Parliament of Kassanda North Constituency, Mubende District, Patrick Nsamba Oshabe, has castigated government for failing local firms, something that leads to capital repatriation by foreigners.
“The Government should practice what it preaches, 60% of the tax payers money goes to Chinese firms while Ugandans get 0%. In terms of Grants and Loans, our government has not practiced Buy Uganda Build Uganda! 91% of tax payer’s money goes to foreigners,” said Nsamba, while presenting a topic of the local content bill at the ongoing 5th Economic Forum organised by Institute of Certified Public Accountants of Uganda (ICPAU).
His presentation indicated that China takes the largest share of contracts awarded by government at 91%. It is followed by Israel at 4%, Portugal at 2% and Japan/South Korea at 4% while nothing is left for Ugandans.
“Government should encourage and commit expatiate firms to use local personnel on both Grants/Loan and Public Funds,” he said.
Nsamba said he has held consultations with the private sector, government agencies and consultants on the law of local content. “By Feb 2017, i introduced a private members bill, “Local Content Bill” to the floor of parliament.”
Meanwhile, the president of CPA, Protazio Begumisa also used the opportunity to reveal some of the success registered by the Institute.
Speaking at the event, Begumisa whose emphasis was on the saving culture revealed, that the Institute’s sacco, the CPA Sacco, has managed to save over Shs800m in just four years.
The 5th Economic Forum kicked off Wednesday at Imperial Resort Beach Hotel, Entebbe and it’s to last three days, ending Friday.
So with that situation why would they talk of middle income status come 2020? The guys think like as if they never went to schools. Of what value or purpose are their degrees?