The opposition Democratic Party has opposed the passing of the Petroleum Amendment Bill 2023.
Last week on Tuesday, Parliament passed the Petroleum Amendment Bill 2023 which gives the monopoly of supplying oil products in Uganda to Uganda National Oil Company Ltd (UNOC), a government-owned company.
If signed, UNOC will be the only company allowed to import oil products and sell them to licensed oil companies such as Total, Shell, Stabex, among others.
Speaking to journalists at the party’s head offices in Kampala, the acting DP spokesperson, Mr Ismael Kirya said the Bill was rushed as it contradicts the Competition Amendment Bill which was passed in 2022 to fight monopoly in the oil business. The Bill is yet to be signed.
He noted that parliament needed wider consultations with the stakeholders, explaining that the minority report was ignored.
Kirya added that Uganda needs a liberalized economy where everyone has a right to compete in the market just like the insurance companies.