AG Flags Irregular Withdrawals from Uganda’s Petroleum Fund

The Auditor General in Uganda has flagged the irregular withdrawal of Shs125 billion from the country’s petroleum fund in his latest report to parliament.

The withdrawal has been classified as irregular on the basis that it was made without following the procedures laid down in the Public Finance Management Act of 2015.

Section 59(3) of the same act dictates that revenues from the petroleum sector are to be used for infrastructure and development financing only.

"I noted that management transferred Uganda Shillings125 billion on 2nd, November 2017, from the Uganda Petroleum Fund to the Consolidated Fund, without explicit mention of the Uganda Petroleum Fund in the Appropriation Act, as a source of funding," the report states.

The Auditor General has laid the blame at the door of the Ministry of Finance, Planning and Economic Development (MoFPED).