By Our Reporter
NATIONAL
President Yoweri Kaguta Museveni has given a Mukono based Islamic SACCO Shs200Million grant to be used in the Parish Development Model system.
This is revealed in a letter dated 4th March, 2024 written by the President and addressed to the Chairperson Taqwa Islamic SACCO, Mukono, Hafwa Nalumansi Ssettala.
The President’s grant is in response to a written request by the Taqwa Islamic SACCO dated 13th February, 2024.
The President in the same letter directed the State House Comptroller, Lucy Kyobe to ensure the money reaches the SACCO as soon as possible.
“I have got your letter dated 13th February, 2024 requesting me to support your SACCO. That one, I will do with Shs200 million. By copy of this letter, I direct the State House Comptroller to implement my directive,” Museveni writes.
He also took the opportunity to allay fears among the Muslim fraternity that view the 5% interest on PDM money as profit saying that amount is simply to cover inflationary pressures.
The President says the 5% can’t be profit because what government gives out as PDM Cash is not a loan but a grant to be used by beneficiaries in all the Parishes in Uganda.
“Government of Uganda wills (gives) Shs100M to every Parish per year. This is not a loan to the Parish SACCO, it is a grant,” President Museveni guides in his letter.
