COSASE orders UPPC over failure to account for Shs9.91 billion

The top management of Uganda Printing and Publishing Corporation (UPPC) failed to account for the Shs9.91 billion, the value at which they gave away 1.778 hectares of government land in a joint venture with Veridos Consortium, a German company to construct a factory in Entebbe.

The chairperson of the COSASE, Joel Ssenyonyi, said the acting financial manager of UPPC, John Ahimbisibwe, is to be held accountable for causing a government loss of Shs1.5 billion because the chief government valuer had valued the property at Shs10.6 billion.

“The contestation, however, arises at the value of Shs9.91 billion at which land was given out yet the chief government valuer had valued it at Shs10.6 billion causing government loss of 1.5 billion shillings,” he noted.

Members of Parliament wanted to know the criteria for choosing this particular company for the joint venture but the acting managing director Kenneth Oluka said the documents he found in his office did not include earlier transitions for the joint venture agreement.

“The agreement was signed in 2018 but the construction of the factory started in May 2022 and work is supposed to be completed in 8 months,” said  Oluka.

Members of the committee were however surprised to hear that the person in this office of the accounting officer and the corporate secretary could not provide information on the contract like the members representing UPPC on the Uganda Security and Publishing Company board.

This forced the members to propose the team leaders be put on oath.

“Uganda Security Printing Company operates independent of UPPC although it’s the majority shareholder and the circumstances they have operated under included inheriting problems in the corporation,” highlighted Oluka.

Ssenyonyi instructed the team to carry documents for all the directors of Uganda Security Printing Company to the committee on Thursday.

COSASE continues inquiries for the auditor general’s report on Uganda Printing And Publishing Corporation for 30th June 2022.

The minister for presidency summoned Milly Babalanda didn’t appear and the committee decided to engage the team for the top management to give responses to queries in the auditor general’s report.