The Uganda Revenue Authority (URA) has grabbed Ugx 1.1 billion in raid on the UTL account according to Mr Stephen Kaboyo the company’s chairman.
URA raided UTL’s account a day before the government took full control of the debt-burdened firm. Last week, Finance minister Matia Kasaija told Parliament’s select committee investigating impropriety at UTL that the government took over the company to save it from collapsing after the Libyan based majority shareholder Ucom pulled out of the firm. The Minister said that;
“We had to take a drastic decision …our brothers from Libya in the name of a company called Ucom divorced us when we were just about to consummate our marriage,” he said, adding: “We cannot allow this company to sink.”
According to the Daily Monitor, the Minister however, blamed government accounting officers for failing to recover the monies and instructed Secretary to Treasury, Mr Keith Muhakanizi, who was present, to implement recovery of the funds.
Govt Agencies are the leading defaulters
Mr Kasaija, however, blamed government accounting officers for failing to recover the monies and instructed Secretary to Treasury, Mr Keith Muhakanizi, who was present, to implement recovery of the funds. This was after the MPs tasked Mr Kasaija to explain how they will recover the Shs18 billion owed to UTL by several government agencies.
“My Permanent Secretary [Muhakanizi], with my full knowledge has been writing to the accounting officers responsible and I think we [have] reached at some stage where we said if you don’t pay then we shall deduct [the money] at the source from your vote,” the minister said.
It was later revealed that the State House alongside security agencies are the biggest clients of UTL and, as such, account for much of its unpaid monies. Also records indicate that the Ministry of Defense and Uganda Police Force are the leading hoodlums.
“Even if it means disconnecting State House, I will do so,” Muhakanizi told the committee.
UTL’s debt exceeds Ugx500 billion.