The Permanent Secretary and Secretary to the Treasury (PSST) Ministry of Finance Planning and Economic Development, Ramathan Ggoobi has confirmed that all verified Parish Development Model (PDM) SACCOs have been fully given Ugx100 million each as budgeted for in the last FY 2022/23.
“I want to assure you that the budget for FY 2023/24 provides an opportunity for every Ugandan to have a stake in the economy. We are intentionally redirecting resources towards wealth creation programs such as the Parish Development Model (PDM) so that more Ugandans can join the money economy,” Ggoobi said.
He added, “The fiscal outlook for Uganda remains positive, the economy has remained resilient despite the series of shocks and is on a steady path to recovery.”
The Permanent secretary guided that moving forward, the ministry will continue to prioritize expansion of revenue collection and improving efficiency and effectiveness in public expenditure and supplementary budgets will continue to be reduced as well as borrowing, particularly domestic borrowing.
“On the next steps this FY 2023/24, continue capitalizing the PDM SACCOs, follow up the money to ensure that the funds are accessed by the target beneficiaries and also utilized for the right purpose and all PDM pillars are now expected to speed up the implementation of their respective activities,” Ggoobi noted.
According to President Museveni, the Parish Development Model has been emphasized and referred to as the Magic bullet to push Ugandans from poverty and move them into a monetary economy.
