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Finance Minister Kasaija says violence stifles economic development
Kasaija said this while addressing guests at the second ever economic summit heralded by NTV and Pricewaterhouse Coopers

The Minister for Finance, Matia Kasaija, has cautioned politicians against inciting violence because it stifles development.

 

Addressing guests at the second ever economic summit heralded by NTV and Pricewaterhouse Coopers, Kasaija tasked the business community to form competent construction companies in order for them to tap into the colossal sums of money that government injects in the road sector. 

Whenever there is noise, money disappears, and when it disappears, and when it disappears, there will be no jobs, no jobs, problems'' He says.

Kasaija also warns that the government is spending alot of money on foreign contractors and the country loses out in the process.

 

The government has currently allocated 7 trillion shillings on infrastructure and electricity projects with 90% of this money going to foreign contractors.

The finance minister says that Uganda has only 2 local companies with the capacity to handle road projectors.

The government has in the recent past been accused of not doing enough to build the capacity of local companies.

However, Kasaija urged Ugandans to form companies that bid for the projects, so that the money can remain in the country. 

"I'm looking for engineers who can build strong companies and I have been helping the National Housing construction company", Kasaija says.

 

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