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PDM Funds Released

Ministry Of Finance Permanent Secretary Boasts Of Loophole Free System Applied

The Prime of Uganda Robinah  Nabbanja Musafiri, accompanied by the acting minister of Finance, Hon. Musasizi Henry, launched the release of government funds to different parishes in the country. The parish development model funds (PDM) is the latest strategy government developed in order to alleviate poverty from citizens.

Prime Minister Robinah Nabbanja flanked by Henry Musasizi pressing the computer button to release PDM funds.

According to the perment Secretary Ministry of Finance planning and Economic Development, Ramadhan Ggoobi, the Prime Minister pressed the button to send the first tranche of PDM money directly to Ugandans at the base of economic pyramid. “No more middlemen of money. No leaky bucket”. Ggoobi added.

Ggoobi Further Explained Dynamics of How It Will Work

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We’ve taken time to verify the PDM SACCOs to ensure we capitalise only those that are ready i.e. with registration with Registrar of Cooperatives; evidence of 1st GM held; and of training of members; and certified resolution appointing signatories to the bank accounts.

Government of Uganda is going to send an annual grant of Ushs. 1.05 trillion to PDM SACCOs for the sole purpose of lending to viable income generating activities in the Production, Processing, Marketing and Storage of agricultural products (Pillar 1).

We’ve developed a framework for mandatory audit of beneficiary PDM SACCOs to inform subsequent disbursements. No one will get away with diverting PDM money. No elite capture of PDM. The rest of the pillars (already funded in the budget) will support the 1st and 3rd pillars.

Like one great economist, Paul Samuelson, said every good cause is worth some inefficiency. PDM is certainly not a magic silver bullet. Neither will it be perfect. Improving lives of Ugandans who are at the lowest of the financial and economic pyramid is the goal.

Chris Kato

Uganda Today is a source of analytical, hard and entertaining news for audiences of all categories in Uganda and internationally. Uganda Today cut its teeth in Ugandan media industry with its print copies hitting the streets in October 2014. We are heavily indebted to all our publics and stakeholders who support our cause in one way or the other. To comment on our stories, or share any news or pertinent information, please follow us on: Facebook: Uganda Today Twitter: @ugtodaynews WhatsApp:+256 702 239 337 Email: ugandatodayedition@gmail.com Website: https://www.ugandatoday.co.ug

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