Co-ops seek pay for property lost during NRA bush war
Prime Minister Ruhakana Rugunda (L) inspecting stalls during the International Cooperatives Day celebrations in Kabale District on Saturday. PHOTO BY ROBERT MUHEREZA
What you need to know:
Progress. Premier says taxes on cooperatives and Saccos will be scrapped.
KABALE. Members of the cooperatives that lost their assets during the protracted National Resistance Army (NRA) bush war have appealed to government for compensation.
They have also requested that the process of establishing a legal framework for Saccos, and the adoption of the East African Cooperatives Bill, which is waiting to be assented to by the East African Community heads of state, be expedited for smooth running of the cooperatives in Uganda.
Speaking during celebrations to mark the International Cooperatives Day in Kibale District on Saturday, the Uganda Cooperatives Alliance board chairman, Fr George Angula, said former shareholders of Uganda Cooperative Bank should be compensated so that the money can be used in re-establishing the defunct bank.
“Many cooperative unions lost their assets during the NRA war. While a few lucky ones have been compensated, many others are still waiting. We request government to resume the exercise,” said Mr Angula.
“The revival of cooperative bank is welcome but we believe the best option is for the shareholders of the former cooperative bank to be compensated so that the money can be used to restart the bank,” he said.
Fr Angula added: “This will help to sort out the issue of agri-finance which cannot be handled by the commercial banks where farmers have no control through shareholding.”
The Prime Minister, Dr Ruhakana Rugunda, who represented President Museveni, commended the cooperatives for their contribution to socio-economic development.
He promised to implement the presidential directive on scrapping taxes on cooperatives and Saacos, saying they are suffering double taxation. He said cooperatives would be compensated.
