CAG names public institutions that suffered great losses in 2022/2023

DODOMA: The Controller and Auditor General (CAG) report for the financial year 2022/2023 has stated that public institutions operating commercially have incurred losses.

Submitting the audited report to President Samia Suluhu Hassan at the State House in Chamwino, Dodoma, on Thursday morning, CAG Charles Kichere said his office understands the government’s initiative to improve the performance of its profit-making institutions but insisted that the aspect of good governance should be adhered to.

According to the CAG report, in 2022/2023, ATCL experienced a loss amounting to 56.64 billion/-, up from 35.25 billion/- reported in the corresponding period.

He also pointed out Tanzania Telecommunications Corporation (TTCL) as another public company that recorded a loss of 894 million/- in the same period.

However, the telecom seems to have improved in terms of performance since the loss has decreased by 94 percent from the 19.32 billion/- recorded in the previous period.

Additionally, Tanzania Railways Corporation (TRC) reported a loss amounting to 100.70 billion/-.

Moreover, the CAG’s report also revealed that Tanzania National Oil (TANOIL) experienced a loss of 76.56 billion/- in the 2022/23 fiscal year, up by 68.72 percent compared to the corresponding period.

Tanzania Posts Corporation (TPC) suffered a loss of 1.34 billion/- in 2022/23.