April 24, 2024

DP opposes Bill giving govt oil import monopoly

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DP opposes Bill giving government oil import monopoly. Additionally, if signed, UNOC will be the only company allowed to import oil products and sell them to licensed oil companies such as Total, Shell, and Stabex, among others.

Last week, on Tuesday, Parliament passed the Petroleum Amendment Bill 2023, which gives the monopoly of supplying oil products in Uganda to Uganda National Oil Company Ltd. (UNOC), a government-owned company.

Apparently, Kirya added that Uganda needs a liberalized economy where everyone has a right to compete in the market, just like insurance companies.

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Speaking to journalists at the party’s head offices in Kampala, the acting DP spokesperson, Mr. Ismael Kirya, said the bill was rushed as it contradicts the Competition Amendment Bill, which was passed in 2022 to fight monopolies in the oil business. The bill is yet to be signed.

However, the opposition Democratic Party has opposed the passing of the Petroleum Amendment Bill 2023.

In conclusion, he noted that parliament needed wider consultations with the stakeholders, explaining that the minority report was ignored.

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