2012 norpak performance meet

Performance target, Target, Performance Norway's Norpak Power Ltd, Chinese company Sinohydro has been awarded the contract to it will become more difficult for the company to meet its investment targets. 50 Free, Morgan Clark (12), , Feb 25, , KBM Heats & Finals ( Kingston) Pilon (12), , Mar 6, , NORPAC Performance Meet (Port Hope). The NORAC Aquatic Club also hosted its NORPAK Performance Meet at the swimmers from the surrounding area participated in the annual meet.

Further, providing compensation for future profit foregone in the case of government default is standard practice. This kind of insurance policy, in the form of buyout provisions, is common for other investments in Uganda and in the sector in particular, including Bujagali. Moreover, the investments made by Umeme, or any other distributor for that matter, are largely investments made in Uganda. These investments will continue to benefit the country even if Umeme is gone.

To illustrate the point, consider this analogy. Imagine you own a large plot of land but have been unable to manage it.

You have therefore hired someone with technical and financial expertise to invest in the planting and harvesting of your crop, say, maize. Your investor provides fertiliser for the soil, installs an irrigation system, and even constructs a processor. The land that had once sat fallow is now productive and profitable, thanks to her efforts. She takes home a portion of the profits, but also shares profits with her partners and stakeholders including you and increases the availability of nutritious food for the community.

Assuming you wanted to take over her now profitable business, would you simply throw her out? You would repay her at least for the equipment she had installed on your land, and perhaps other less tangible investments. After all, they are investments made on your land that you will continue to benefit from. If you did go ahead to remove her without compensation, you would certainly have a very difficult time finding anyone to take her place.

Shedding light on Uganda’s Umeme debate

Word of your reputation with investors would spread fast. In the absence of a buy-out clause in your contractual agreement, investors would not want to invest in your land or your power sector. Buy-out clauses are essential to attracting investment. Such provisions are especially critical in countries like Uganda that, for reasons fair or unfair, are considered medium or high in terms of political risk.

An argument can be made that the terms of the buy-out could have been better for the Ugandan government, but the simple fact is that the government agreed to these terms.

An analogy again clarifies the point.

Development – Melina Raquel Platas

Assume you were to sell your plot of land and agreed with a buyer on a price. If you later learn that you could have gotten more money for your land, something you would have known if only you had done proper research, the mistake can only be yours. You would have no basis for demanding more money from your buyer.

Parliament is right to question the process through which contracts are drawn, but a mistake on the part of government, if indeed one was made, cannot itself be grounds for terminating the contract. The escrow account Like the buy-out agreement, the escrow account reduces the risk that investors will incur losses imposed by government. The escrow account provides a source of revenue for Umeme to draw upon in the event that government defaults on electricity payments to government entities.

Indeed, government has defaulted numerous times, demonstrating the importance of such a provision. Historically, a lot of government public utilities have failed because of government non-payment for services. The Ministry of Defense, police, and prisons are the main consumers of electricity on the side of government, and also the primary defaulters.

After Umeme shut off power to police due to non-payment inpolice responded by impounding Umeme vehicles. The performance targets Another complaint leveled against Umeme by parliament is under-performance. In case of the first, the Ugandan government pays Umeme a percentage of un-depreciated investment capital. This payment includes compensation for future profits that government has forced Umeme to forego.

It made no reference to similar or related contracts elsewhere in Uganda, or beyond.

  • Category: Development

In fact, governments, especially in countries with high political or financial risk, must provide assurances on the security of investments in order to attract investors. Further, providing compensation for future profit foregone in the case of government default is standard practice. This kind of insurance policy, in the form of buyout provisions, is common for other investments in Uganda and in the sector in particular, including Bujagali.

Moreover, the investments made by Umeme, or any other distributor for that matter, are largely investments made in Uganda. These investments will continue to benefit the country even if Umeme is gone. To illustrate the point, consider this analogy. Imagine you own a large plot of land but have been unable to manage it.

You have therefore hired someone with technical and financial expertise to invest in the planting and harvesting of your crop, say, maize. Your investor provides fertiliser for the soil, installs an irrigation system, and even constructs a processor.

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The land that had once sat fallow is now productive and profitable, thanks to her efforts. She takes home a portion of the profits, but also shares profits with her partners and stakeholders including you and increases the availability of nutritious food for the community.

Assuming you wanted to take over her now profitable business, would you simply throw her out? You would repay her at least for the equipment she had installed on your land, and perhaps other less tangible investments. After all, they are investments made on your land that you will continue to benefit from. If you did go ahead to remove her without compensation, you would certainly have a very difficult time finding anyone to take her place.

Word of your reputation with investors would spread fast. In the absence of a buy-out clause in your contractual agreement, investors would not want to invest in your land or your power sector. Buy-out clauses are essential to attracting investment. Such provisions are especially critical in countries like Uganda that, for reasons fair or unfair, are considered medium or high in terms of political risk.

An argument can be made that the terms of the buy-out could have been better for the Ugandan government, but the simple fact is that the government agreed to these terms.

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An analogy again clarifies the point. Assume you were to sell your plot of land and agreed with a buyer on a price. If you later learn that you could have gotten more money for your land, something you would have known if only you had done proper research, the mistake can only be yours.

You would have no basis for demanding more money from your buyer. Parliament is right to question the process through which contracts are drawn, but a mistake on the part of government, if indeed one was made, cannot itself be grounds for terminating the contract. The escrow account Like the buy-out agreement, the escrow account reduces the risk that investors will incur losses imposed by government.

The escrow account provides a source of revenue for Umeme to draw upon in the event that government defaults on electricity payments to government entities. Indeed, government has defaulted numerous times, demonstrating the importance of such a provision.