Africa-Press – Uganda. The Directors of Newplan Group have pleaded with Parliament’s Finance Committee to approve an 18 billion shilling tax waiver, warning that failure to do so would lead to the company’s collapse and job losses for hundreds of Ugandans.
“We are stressed financially and failing to relieve this tax burden will lead to closure,” Lawrence Levy Omulem, Chairperson of the Board, told the Committee. He cited COVID-19-induced losses and asset confiscation by the Uganda Revenue Authority (URA) as reasons for the plea.
Omulem revealed that the company is negotiating with commercial banks on loan terms and conditions. “We are in negotiations with banks,” he said.
Committee members were divided on the tax waiver request, noting that Newplan has lost lucrative contracts, which may impact its revival.
“We have concerns about the company’s financial struggles, but we also need to consider the impact on Ugandan jobs,” a legislator said.
Newplan provides expertise in planning, economics, engineering, architecture, and oil and gas, among other fields.
