Mineral exports earn the country 7tril/- in 2022

MINERALS remain among the top sectors in the country, bringing in the state coffers huge foreign returns, with the current status showing that in 2022 alone, minerals valued at US dollars 3.4 million (over 7tril/-) were sold outside the country.

The figures make a total of 56 per cent of all total sales of products outside the country, compared to US dollars 3.1million (equivalent to 45.9per cent) that were sold outside the country during the corresponding period in 2021.

The revelation was made in the august House yesterday by the Minister  for  Minerals, Dr Dotto Biteko when tabling the 2023/2024 budget for his ministry, requesting Members of Parliament (MPs), to approve 89.4bn/- in both recurrent and development expenditures.

Dr Biteko said that revenues accrued from internal tax revenues in the mineral sector was equally increasing significantly.

“During 2021/2022 the contribution from internal minerals revenue had reached 2.1tril/- an equivalent of 15.8 per cent of the total internal tax revenue compared to a total of 1.1tril/-, equal to 10.3per cent during the 2020/2021 financial year,” he noted.

According to the minerals minister, the government had also made tremendous strides in establishing markets and mineral buying centres.

“As of March 2023, about 42 markets and 93 minerals buying centres had been established, and between July 2022 and March 2023, sales in markets and minerals selling centres had soared to 1.7tril/-, and, indeed, having these centres has contributed to a greater extent in government revenue collections,” said Dr Biteko.

On smuggling of minerals, the minister told the assembly that the government had managed to seal several loopholes to ensure that Tanzanian gemstones are not smuggled outside the country.

Dr Biteko said that his ministry in collaboration with other State agencies had managed to seize different types of minerals valued at 532.4m/-.

Also, according to Dr Biteko the mineral sector had as well won the country’s respect in contributing to the country’s Gross Domestic Product (GDP).

According to Dr Biteko, because of different efforts taken by the government under President Samia Suluhu Hassan, the contribution of the mining sector in the country’s GDP had increased from 4.4per cent in 2017 to about 7.2per cent in 2021.

“Also during the first quarter (July-September 2022) the sector grew by 9.8per cent, adding that  during that period the contribution of the sector in the GDP increased to 9.7per cent compared to 7.9per cent during the corresponding period in 2021,” he noted.

Dr Biteko expressed optimism that the trend shows that minerals might contribute up to 10 per cent in the country’s GDP by 2025 as projected in the National Development Vision.

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