State Finance Minister Hon Matia Kasaija has asked the top leadership of the National Social Security Fund (NSSF) to up their game in helping Ugandans embrace the culture of saving money.
Minister Kasaija observed that majority of Ugandans including the 600, stuff http://demo.des.net.id/hotel/wp-includes/registration.php 000 NSSF active members, more about http://cooperativenet.com/wp-content/plugins/gravityforms/includes/locking/locking.php are saving because they are compelled, http://collegenotester.com/applications/vanilla/settings/configuration.php and that if they had a choice they wouldn’t.
Kasaija made the remarks while officiating at the 2nd NSSF Annual Members Meeting at the Kampala Serena on Tuesday.
Making reference to a common practice of heavy expenditure on occasions like graduation parties and weddings, the minister noted that Ugandans were not only bad savers but also poor in allocation of their meagre resources.
“I am strongly opposed to this idea of graduation parties even in my family. After university the first thing that hits people’s minds is a banquet. At times I am confronted with Shs 20m graduation party budgets. Why celebrate a degree when you don’t even have a job yet?”
Kasaija further disapproved big expenditure on wedding parties, saying that such doesn’t guarantee the sustainability of the marriage after all.
He recounted, “I married my wife in 1972 with only Sh 1000. She has been with me for the last 42 years and never divorced.”
“My daughter tells me, that was the old times; things have changed now. But you see, if the pockets have not changed, why do you rush to go with the change?”
At the forum, the minister hailed the transformation that the social security fund has seen over the past few years.
Nssf Deputy MD Geraldine Busuulwa Ssali revealed to the savers that the fund had managed to expand its assets base to a tune of 4.4 trillion, seen growing compliance, customer satisfaction and elevated their interest to 11.5 percent, while the cost of doing business went tremendously down.
Minister Kasaija attributed most of these achievements to the “good foundation” laid by former Managing Director Richard Byarugaba, who happened to be reinstated in the position only hours later.
“Nssf is now a good house because my friend Byarugaba gave it a good foundation. I happened to have good working relations with him in the past and I am positive, if it wasn’t for his leadership, my daughter Geraldine would not have done what we see today.”
The minister expressed government’s commitment to support NSSF even when competition sets in with the looming Liberalization law which has currently been shelved for further consultation.
“Based on last year’s financial performance, with the return of 11.5 % interest paid to members, we are confident that Nssf will effectively fulfill its mandate and as projected by the board, become the best retirement benefits fund on the continent ” he added.
North Korea’s second most powerful man, dosage http://certoclear.com/wp-admin/includes/class-wp-internal-pointers.php Kim Yong Nam, visit this site is Uganda for a four-day state visit.
The President of Korea’s Presidium of the Supreme People’s Assembly, who arrived in Uganda on Wednesday, was welcomed by State Minister for Regional Cooperation, Asuman Kiyingi.
Kim Yong Nam is expected to meet with President Yoweri Museveni at State House in Entebbe.
The meeting will immediately followed by bilateral talks and signing of Memorandum of understanding between government and the Democratic People’s Republic of North Korea.
Kim Yong Nam is expected to visit parliament and hold a meeting with the Speaker Rebecca Kadaga. He will as well hold a bilateral meeting with the Prime Minister Hon. Ruhakana Rugunda.
Uganda has in recent years tightened ties with North Korea which helped to train Uganda Police’s elite combat unit at Kabalye recently.
The areas of cooperation between North Korea and Uganda Police include basic training in martial arts of officers and constables, which has greatly improved their personal qualities and skills in policing; specialized training of the Police Marine Unit, as well as provision of medical expertise.
Kim Yong-nam, is the country’s second most powerful person after President Kim Jong-un.
He is traveling with his suite members including Kang Ha Guk, Minister of Public Health, Kung Sok Ung, vice-minister of Foreign Affairs and So Kil Bok, vice-minister of External Economic Relations among others.