Government values companies’ contribution in propelling economy

PWANI: THE government has assured companies where it owns minority shares that it will continue to value and support their contribution to the country’s economy and development.

Chief Secretary Dr Moses Kusiluka made the statement in his speech read on his behalf by the Permanent Secretary in the Ministry of Finance, Dr Natu Mwamba, at the opening of a meeting between the Treasury Registrar office and Board of Directors of the companies which the government has minority shares at the Mwalimu Julius Nyerere Leadership School in Kibaha Town.

Dr Kusiluka said that apart from enterprises which are wholly owned by the government, there are companies where the government owns less than 51 per cent stake.

These entities, he said, have been instrumental and the government pays a great attention to their performance.

“Bringing the Board of Directors and their Chief Executive Officers of the companies which the government has minority shares in one room with the Treasury Registrar is a good continuation in upholding the value of partnership and cooperation between the government and the investors.

“This proves that Tanzania’s development is a shared commitment for both public and private sector,” he stated.

He went on to say that the focus of the sixth phase government under President Samia Suluhu Hassan is to create a favourable environment for the economy to grow for the benefit of the country at large.

“For President Samia, this meeting, the one of its kind since we attained independence, does not only support her vision, but will also act as a catalyst on how best private investments can work with the government for more positive outcomes,” he added.

Expounding, he said. that the meeting was taking place during a period when President Samia and the sixth phase government mark three years in office.

“Throughout all this time, the president has been leading the country by using 4Rs philosophy, which represent Reconciliation, Resilience, Reforms and Rebuilding. “

Based on the 4Rs as presented by the president, we are delighted to see the Office of the Treasury Registrar supporting her within reforms and rebuilding.

We have been following keenly the push for reforms around the State-Owned Entities (SOEs) and all Public and Statutory Cooperations (PSCs) in the country. These reforms are paramount towards rebuilding our economy,” he said.

The government through the President’s Office (Planning and Investment) has submitted a Bill in the National Assembly to form the new Public Investment Authority (PIA)

“In addition to that, through the Public Investment Authority, we expect to form Public Investment Fund (PIF) which will cater for all capital requirements, where the government has shares and representation,” he explained.

For his part, Treasury Registrar Mr Nehemiah Mchechu said that the meeting will be a good opportunity for the government to know more about challenges faced by the companies.

“I believe that through this meeting we will know more about our activities and about the challenges we face in our daily activities and ways to solve them. The meeting will also be a good way for us to form networking among ourselves”, he noted.