Martin Luther Oketch
30 June 2009
Kampala — The National Validation report by the National Governing Council of Uganda African Peer Review Mechanism (APRM) has recommended that government should expedite the liberalisation of the Pension sector to encourage long term savings among the Uganda population.
"The enactment of the Ugandan Retirements Benefits Bill should be expedited
so that an independent pensions regulator can be appointed as soon as possible," reads the National Validation of the Programme of Action (POA) annual Progress Report 2008/09.
The report that was presented to Stakeholders at Imperial Royal Hotel recently to review the progress that has made in Uganda since the launch of the African Peer Review Mechanism in Uganda states that an authority to regulate public pensions should be established.
"Support should be provided to create an efficient capital market to enable businesses to access capital needed for growth and to attract investment," says the report.
Although Uganda's economy has been growing an impressive rate for the last decades with the real GDP averaging between 5 per cent to 8 per cent the country has not fully achieved sustainable economic growth hence the need for more work need to be done correct economic management in Uganda.
The Uganda National Governing of African Peer Review Mechanism recommends that for sustainable economic development, the Government of Uganda needs to encourage more businesses to move from the informal to the formal sector to ensure that the businesses themselves are sustainable, generating sufficient income to support those involved in them and also to pay taxes to assist in the development of the economy as a whole.
Decentralizing of registration of companies has been one of the long standing issue which the private investors says it delays their move to start business in the upcountry towns.
The National Validation of the Programme of Action (POA) Annual Progress Report 2008/09 by APRM recommends that to reduce on delays on registration of companies, The Registrar of Companies should be supported to open regional offices to enhance access to formal registration services for those in rural areas.
On the International codes and standards in the areas of labour rights and construction of roads and buildings the National Governing Council of Uganda
APRM recommends that it should be should be adopted, while the regulation of Tier 4 microfinance institutions should also be reviewed by the state actors.
To curb the problem of counterfeit goods in Uganda, the report says National Governing Council of Uganda APRM says that the enactment of the Counterfeit Goods Bill 2008 should be expedited to enable UNBS to fully carry out its role in enforcing standards.
Further on Economic Governance and Management the National Validation of
the Programme Action Annual Progress Report 2008/09 highlights that access to information on government programmes is a fundamental pre-requisite for enhancing economic good governance and management. Opportunities for
corruption and mismanagement or anxiety are usually rooted in the absence of avenues for accessing information. The government needs to improve on dissemination of key information on government policies and programmes to the citizens and stakeholders.
Be the first to Write a Comment!
Copyright © 2009 The Monitor. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
