Finance state minister Henry Musasizi shared positive news about Uganda’s formal employment during a recent session with the parliamentary committee on finance. He disclosed that a substantial 201,215 employees have been incorporated into the Pay As You Earn (PAYE) register, signaling a noteworthy recovery from recent economic challenges.
The minister highlighted this development while discussing the Budget Framework Papers for the ministry (Vote 008) and Treasury Operations (Vote 130) for the financial year 2024/25. According to Musasizi, the PAYE register has expanded by an impressive 14.1%, growing from 1,422,857 employees in the financial year 2021/22 to 1,624,072 in the financial year 2022/23.
PAYE, a tax imposed on an employee’s total monthly income exceeding sh235,000, is paid to the Uganda Revenue Authority (URA) by the employer on behalf of the employee. The tax rates are determined based on the individual’s resident status, as explained by URA.
During the committee session, Finance state minister for planning Amos Lugoloobi raised concerns about the delayed acquisition of the right of way, identifying it as one of the factors contributing to the non-performance of loans. Lugoloobi emphasized the need for Parliament to engage in a comprehensive discussion on the country’s development challenges and explore solutions by endorsing the Third National Development Plan (NDPIII) program approach.
The government asserts that NDPIII 2020/21–2024/25 will serve as a guiding framework to fulfill the aspirations outlined in Uganda Vision 2040. This vision aims to transition Ugandan society from a peasant to a modern and prosperous country within a span of 30 years.
Ramadhan Ggoobi, the finance ministry permanent secretary and secretary to the treasury, also participated in the parliamentary meeting, contributing to the discussions surrounding the nation’s financial and developmental landscape.
