Much has been said about Bidco Deal- no smoke without fire in Uganda and this one has many similarities in the mucky world of money recycling.
Firstly Uganda does not need any commercial or large scale project in the production of the products derived from palm oil where we have sesame, sun flower, ground nuts, maize, even trees from which we can get oils to make soap like moringa!
Secondly that large-scale project in due course will kill off all small-scale producers of the above raw products unless there is alternative use of the above crops which will become constant but only for sesame, sun flower, ground nuts as society in and around Uganda transforms.
Thirdly the above crops take a shorter time to grow and requires a lot of labour in a country like ours therefore in terms of employment palm oil can�t compete with those named raw material.
Fifthly environmentally it is not the best project for Uganda.
Now if there is a close analysis of this project focusing on given parameters
1. The roles the persons responsible for enforcing that Uganda sign the agreement
2. The firms involved in consultancy work on which the loan is based to be offered to Uganda
3. Scrutiny of the banks and other financial institutions involved in handling the moneys involved
4. The origins of the money offered and reasons given in the project prospectus
5. The relationship among the people involved and their Uganda counterparts involved in implementing the project
Many interesting and surprising facts might come-up to the bewilderment of Uganda government- I think so.
Bwanika
�Govt Forced To Sign Bidco Deal�
FINANCE state minister Mwesigwa Rukutana yesterday told MPs on the finance committee that the government hurriedly signed the Bidco palm oil project agreement because the International Fund for Agriculture Develo-pment (IFAD) had threatened to withdraw support.
Rukutana and agriculture state minister Kibirige Ssebunya, appeared before the committee to explain why the agreement was drafted and signed on the same day.
�We were in a panic because IFAD was threatening to withdraw its support if we did not sign the agreement. We were fighting against time to get the loan,� Rukutana said.
IFAD agreed to extend to a loan worth $20m, while Bidco would raise $120m and the rest to be from the government.
But Mps rejected his explanation saying it was not enough to let the government be blindfolded into extending huge incentives to one company.
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bwanika
url: www.idr.co.ug
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