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@kfm Wed, 28 Feb 2024 04:07:36

Finance ministry cautions Parliament on motor third-party funds

The Ministry of Finance has cautioned Parliament against a proposal to allocate all money collected from motor third-party insurance to the Ministry of Health for treating road crash victims. The Ministry argues that creating separate funds within the government would be difficult to manage. The call comes from Henry Musasizi, Minister of State for Finance, while appearing before the Health Committee. He responded to a proposal by committee chairperson Charles Ayume, who advocated for directing all motor third-party insurance collections towards treating road crash victims. The Minister informed the Committee that the total collections from motor third-party insurance in the 2022/23 financial year alone amounted to Shs32 billion. This figure includes stamp duty (Shs12 billion) and VAT (Shs3 billion). Money […]

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