Presidential banana project suspended
- Parliament has suspended funding for the Presidential Initiative on Banana Industrial Development over accountability queries.Both the parliamentary finance committee and the budget committees have refused to approve sh10b, which the Government had allocated to the banana initiative in the next budget.In the report to the budget committee, the finance committee observed that despite continuous funding now amounting to sh50b to the project since 2005, the original plan of having a state-of-the art community based banana processing industry at Bushenyi operating through a technical business incubator is far from becoming a reality.
Initiated by President Yoweri Museveni, BIPID was aimed at kick-starting state-of-the-art banana processing enterprises targeting rural farmers to improve value addition to bananas, raise income opportunities and expand market access for banana growers and entrepreneurs.
The finance committee MPs say whereas the Government has invested over 40b in the initiative, the profits made out of the venture are not returned to the national treasury.
The MPs on the budget committee decided that they would give the money to the envelope for enhancement of teachers’ salaries in addition to funds from other sources.