21ST PARTNERSHIP FUND STEERING COMMITTEE MEETING HELD IN ARUSHA

21ST PARTNERSHIP FUND STEERING COMMITTEE MEETING HELD IN ARUSHA

East African Community Headquarters, Arusha, Tanzania, 5 November, 2014:  The 21st Partnership Fund Steering Committee Meeting was held yesterday at the EAC Headquarters in Arusha, Tanzania. The meeting was attended by Developemnt Partners contributing to the EAC Partnership Fund. The EAC Partnership Fund is a basket fund mechanism with annual contributions from Development Partners (DPs) aimed at supporting the EAC projects and programmes that are geared towards regional integration. Norway is the current Chair of the Partnersghip Fund. In this context, the meeting was chaired by Ms. Elisabeth Schwabe-Hansen the Counsellor-Political Affairs at the Royal Norwegian Embassy in Dar es Salaam, Tanzania.

Addressing the Development Partners, the Secretary General of the East African Community Amb. Dr. Richard Sezibera disclosed that in June this year, the East African Legislative Assembly approved the EAC budget for financial year 2014/15 of USD 124,069,625. This budget consists of USD 73,180,446 from the Development Partners and USD 50,889,179 from the Partner States.

 He said the funds from the Development Partners will be used to implement the EAC priorities for FY 2014/15, which include; Operationalization of the Single Customs Territory; Implementation of the EAC Common Market Protocol; Implementation of the roadmap towards the establishment of EAMU; Development of Infrastructure, Tripartite, EAC Industrialization Policy and Strategy; EAC Food Security Action Plan and Climate Change Master Plan; Sensitization of East Africans; Peace and Security; Political Federation and Revitalization of LVFO.

 The Secretary General noted that the Community was making good progress on the integration agenda which is greatly supported by the Partnership Fund and applauded the Development Partners for the continued contributions.

 "Since its inception the Fund has now contributed over USD 41 Million to this great agenda. However, much still needs to be done as we move into an era of Single Customs Territory, Implementation of the EAMU Protocol and Institutional Strengthening of EAC to deliver on its agenda" asserted the EAC official, adding that "I still count on the valuable support of the Development Partners and specifically the Partnership Fund which is a very special vehicle for EAC in terms of coordination of Development Partner support".

 The 21st Partnership Fund Steering Committee Meeting considered, among others, the proposed priorities and disbursements for FY 2015/16, and the Partnership Fund Internal and External Audit and Annual Reports for FY 2013/14.

About Author

Related items

  • My wife has abandoned our marital bed

    What you need to know:

    She no longer sleeps in our bed but in the sitting room, she does not like to get intimate yet when we do, I find myself on treatment for STIs

    Dear Heart2Heart, my wife and I have been together for some time now and we have a child together. However, of late, her behaviour has changed. She no longer sleeps in our bed but in the sitting room, she does not like to get intimate yet when we do, I find myself on treatment for STIs. Mind you, even through all this, I have never been tempted to cheat on her. I love my wife but I do not think she is faithful or in this marriage for the long-term. What should I do? Anonymous

    Credit: Daily Monitor

  • How govt will earn from oil, gas sector

    What you need to know:

    • Income. Government has provided a number of taxes under the Income Tax Amendment Bill through which Uganda will earn from the oil and Gas sector as a country.  

    Now that the oil development stage has started, it is easier to connect the dots on how the private sector will directly benefit from the resource. 

    A number of contracts have been drawn while hundreds or even thousands of others, are still in the pipeline. 

    However, beyond individual or company level benefits, the question is; how does Uganda, as a country, earn from the oil and gas sector?

    Pamela Natamba is the head of oil and gas division at PricewaterhouseCoopers (PwC). 

    In her assessment, as a country, during the development stage, Uganda will mainly earn through taxes, given that there will be no commercial production until 2025. 

    Therefore, she notes, such earnings have been provided for in the Income Tax Amendment Bill, which particularly focuses on the oil and gas sector. 

    “That Bill has made specific provisions, but one of them which is very interesting is it introduces a Windfall Tax,” she says and notes that this tax will apply to licensees that have signed Petroleum Sharing Agreements, many of which have been involved in exploration up to the point of production. 

    These, she says, include large companies such as TotalEnergies, CNOOC and Uganda National Oil Company (UNOC), among others. 

    What the Bill puts in place, Natamba says, is that as long as you earn revenue in excess of a certain amount, you will be subjected to a Windfall Tax. 

    For instance, she explains, if international oil prices are expected to go for a certain amount you a company sells beyond what has been projected, the expectation is, the company will pay an extra tax over and above 30 percent. 

     

  • Mps to elect speaker before next sitting

    What you need to know:

    • By dying before the 10 month in office, Oulanyah, a former Uganda Peoples Congress (UPC) adherent-turned-NRM diehard, becomes the shortest-serving speaker of Uganda’s Parliament.

    Lawmakers are to elect a new Speaker of the 11th Parliament following the death of incumbent Jacob Oulanyah, according to the Constitution.

    Article 82(4) provides that subject to Clause (4) of Article 81 of this Constitution, “no business shall be transacted in Parliament other than an election to the office of Speaker at any time that office is vacant”.
    Clause 4 of Article 81 relates to incoming lawmakers taking oaths of office, and of Member of Parliament, in order to be eligible to vote, and be voted, as Speaker.

    Credit: The Daily Monitor

Login to post comments