loader
Tanzania Oil & Gas
Picha

JPM: Give dividend by July

PRESIDENT John Magufuli yesterday ordered State-owned entities to give dividend to the government by the end of July this year.

He has also directed the Treasury Registrar to write to all 253 parastatal companies in which the government has ownership shares to implement the legal requirement of giving dividend in two months time from now.

He ordered that the copies of the letters be channelled to the Chief Secretary.

The President told the Treasury Registrar to be firm, noting that some public entities had never made profits, but only incurred losses. “We can’t just look at them incurring losses every year. They only attend ceremonies of others giving dividend,” he stated.

Dr Magufuli’s new directive comes as a wake-up call to the entities as the Fifth Phase Government emphasises them to be profitable so that they contribute to the government’s coffers for the development.

The number of parastatal organisations giving the dividend to the government has increased from 24 in 2014/15 to 40 in 2018/19.

“These monies help in building hospitals, roads, Standard Gauge Railway (SGR) and other development projects,” Dr Magufuli noted at a ceremony to receive a dividend from the Tanzania Telecommunications Company (TTCL).

The TTCL yesterday gave 2.1bn/- dividend to the government after making a profit of 8.3bn/- during the 2017/18 financial year.

In the previous year, the company gave a dividend of 1.5bn/- at an event held in the middle of last year in the city, which is an increase of 600m/-.

“I am really happy. For the company had never made profit but incurred a loss of 15bn/- every year for the past 15 years after being privatised but today it is giving dividend,” President Magufuli remarked.

The Head of State appealed to Tanzanians to be patriotic, supporting the TTCL part of the profits of which contributes to country’s development.

He demanded a list of mobile phone numbers of all ministers and permanent secretaries to see how many of them have TTCL numbers. He further told all government employees to cultivate love for TTCL and should have TTCL numbers besides other phone numbers. “We should care for our brands. We have a duty to value our things,” the President remarked.

Earlier, Treasury Registrar Athumani Mbuttuka explained that the government collected a total of 367bn/- dividend by 30th last April.

The dividend also increased from 119bn/- in 2015/16 to 339.8bn/- in 2017/18. Minister for Works, Transport and Communications, Engineer Isack Kamwelwe said the ministry had government approval for the TTCL to secure a 99bn/- loan for boosting its capital.

Out of it, the company has already received 66bn/-.

Outlining the company’s achievements, TTCL’s Director General Waziri Kindamba, said the company’s dividend increased following improved customer services and technology.

One of the new products that the company plans to introduce next July is called ‘TTCL Hakiki’. The new product aims to enable farmers who are TTCL subscribers to verify the quality standards of fertilisers by using their mobile phones.

The company has continued growing in terms of network coverage and financial services through the TTCL Pesa which has 11,000 agents countrywide.

Prior to official start of the ceremony yesterday, President Maguful visited some facilities of the TTCL at its headquarters in the city. He also witnessed how the Video Conference technology that was designed by the TTCL operates.

He got chance to hold a meeting via Video Conference with regional commissioners of Mwanza, Songwe and Tabora focused on development issues.

GROWING socioeconomic and cultural interaction between the people of ...

foto
Author: BERNARD LUGONGO

Post your comments

Recent Posts

Categories

more headlines in our related posts

latest # news