Minister of State for Finance (General Duties) Fred Omach of Uganda
Omach said the relations will be further consolidated when Ugandan President Yoweri Museveni visits China in November to attend the first summit of FOCAC.
APA-Kampala (Uganda) Uganda Finance Minister Fred Omach said on Monday that his government has finalized drafting a new law to curb money laundering in the country.
Omach said that if the PAYE threshold is raised, government would lose Ush78 billion ($45.
The Minister for Finance (General Duties) from the Republic of Uganda Fred Omach said yesterday during a meeting of the bank held in Dar es Salaam that the bank registered a 16 per cent increase in performance from USD22.
Omach said that EADB non-performance portfolio, declined by 11per cent during the year.
Speaking to Business Power in Accra, Ghana, State Minister for Finance Fred Omach said the outcomes of the three day negotiations were satisfactory.
Presenting Uganda’s position on key areas of the negotiations at the Third High Level Forum on Aid Effectiveness last week, Mr Omach said Uganda strongly endorses the call for stronger country ownership and exercise of effective leadership over aid funded projects, development goals and policies.
The risks that Mr Omach had taken clearly favoured Mulowooza and came even if as State Minister, he had no authority to determine ownership of the disputed land.
Mr Omach had no authority and it remains to be seen what will happen this time around since the IGG has gotten involved in this case as well.
In his presentation finance minister in charge of general duties, Fred Omach said the cost of importing ARVs had increased from $3m (sh5.
Omach said it was necessary to help the company acquire the loan to guarantee steady supply of cheap ARVs and other generic drugs.
Omach said Ugandas ability to get cheap drugs was under threat because her main sources of generic drugs-China, India and Brazil had recently ratified the Trade Related Intellectual Property Rights treaty of World Trade Organisation.
Omach said his election was a boost to Uganda.
Lawrence Onegiu, the Kingdoms Minister for Environment, Natural Resources and Youth Affairs, claims that Omach is using his position to block the release of the funds to the kingdom.
Jacan-Omach is also a prince from the Pakwach-based Omach royal family, which is contesting the leadership of the Alur King, Rwoth Obimo Raune (Leopard) III.
But Omach has described the claims as baseless.
Asked why the fund was scrapped, state minister for finance (general duties), Fred Omach said yesterday he could not comment on the matter.
Omach says that as a result of the Kenyan crisis, the Uganda Revenue Authority underperformed in tax collection at the entry points, registering a shortfall of 2.
The Minister of State for Finance, Fred Omach says the move is aimed at encouraging a more positive development approach that will inspire Ugandans towards better life.
Omach says the shift follows recommendations from several development practitioners for the country to review its development strategy following mild achievements under the Poverty Eradication Action Plan.
Omach says that under the new development plan, the government will put more emphasis on value addition to raw materials produced in Uganda as well as marketing of locally produced goods and services.