FORMER MINISTER OMACH EXPLAINS ALLEGATIONS ON ASIAN PROPERTY

By our reporter August 3, 2019

www.mknewslink.com

In Kampala

The former minister of state for finance (General duties) Fred Jachan Omach has responded to allegations that they gaveaway Asian property irregularly.

Omach and Aston Kajara (former minister of privatization) were recently accused by the Deported Asians’ Property Custodian Board officials of having irregularly issued letters of repossession of Indian property.

In his letter to parliament, the subcommittee Commissions, Statutory Authorities and State Enterprises (COSASE) date 23^rdJuly 2019 Omach said that the minister of state for finance could hold the portfolio of the minister responsible for finance and therefore signs the prescribed certificate of repossession, certificate of purchase or certificate of receipt as derived from expropriated properties Act 1982 laws of Uganda as long as he indicates he is holding the portfolio.

He explained that the property in dispute; FRV 29 floor 4 of Namwabula Estate is still before the Kampala high court under civil suit No 80 of 2008.

He explained that when it was reported at the time that M/s N. Shah and Co Ltd who were rightful owners of the property did not return in time to repossess the property M/S Mulowoza and Brothers Ltd directors requested to take the property and develop it which was given to them.  After a while M/S N. Shah resurfaced to say they had actually repossessed the property which was difficult to cancel the certificate of possession and purchase that was already issued.     

In Omach’s letter which leaked to the press, he explained that it is only court that can cancel a repossession certificate.

Omach added that “ Hon chairman, for the case of land opposite the post office on plot 24 Kampala road, formerly known as plot 5A Block C. it is registered in the names of  M/S Meera Investments Ltd. The custodian board management then tried to deal with half share in the names of KershavlalPrechand Shah then it was gazetted on 22^nd    September according to gazette No 45 of 2006.

He further explained “However, M/S Meera Investments Ltd sued custodian board in its corporate entity when all this happened M/S Meera Investments won the case.

The former minister said that with the above background to this property it is unfair for the Divestiture Committee to allege that he irregularly gave away this property.

Omach was responding to a Newvision story which ran mid July (17^th) this year entitled “Ex- ministers cited in irregular give away of Asians Property”. The story followed a presentation of Custodian board top officials to parliament.

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