Govt evaluates 82 privatised entities
Treasury Registrar Mr Lawrence Mafuru said his office had written recommendations about the failed companies and the cabinet is expected to make the final decision.
What you need to know:
- A directive was issued last year that at least 300 entities should be evaluated in a bid to idenfy those that have failed. Treasury Registrar Mr Lawrence Mafuru said his office had written recommendations about the failed companies and the cabinet is expected to make the final decision.
Dar es Salaam. The government has completed evaluation of its 82 privatised entities to know their performance status before deciding whether to retain the current ownership or review contracts.
A directive was issued last year that at least 300 entities should be evaluated in a bid to idenfy those that have failed. Treasury Registrar Mr Lawrence Mafuru said his office had written recommendations about the failed companies and the cabinet is expected to make the final decision.
He said that the process was still ongoing.
“We have officially written to the entities that are performing well to acknowledge their good work, while those which failed by going against their contracts will be repossessed by the government before they can be given to another investor,” he told journalists yesterday.
Some of the companies which are doing well include Tanzania Breweries Limited (TBL), National Microfinance Bank (NMB) and Tanzania Cigarette Company (TCC). He said a majority of those that failed had either not finished payment according to the purchase contract or were not performing according to contract. He named some of them as Leather Factory in Mwanza, Urafiki, Tea Factory, Meat Factory in Shinyanga and General Tyre among others.
