CHADEMA
JF-Expert Member
- Apr 13, 2013
- 488
- 2,468
By Chadema Media
GEITA. The Vice-Chairman of the main opposition political party - CHADEMA Mr Tundu Lissu has stated that the value of all the gold mined and sold abroad in the fiscal year 2021/22 was 3.6 billion US Dollars, equivalent to 8.6 trillion Tanzanian Shillings, but the country only earned 85.6 million US Dollars in tax revenue, which equals 1.732 billion Tanzanian Shillings.
"If I am not mistaken, the revenue that the government received is only 0.86 percent of all the money investors took out from our minerals," Mr Lissu said while addressing a public meeting in Geita on Monday, August 7, 2023.
He added, "Here in Geita, where gold worth 1 billion US Dollars, equivalent to 210 billion Tanzanian Shillings, is mined annually, the Municipality received only 700,000 US Dollars in revenue, equivalent to 1.732 billion Tanzanian Shillings. Means the revenue that Geita authorities received is more than zero percent of what the investor collected."
The outspoken opposition leader also mentioned that flawed investment agreements in the mining sector made by the government have led to a shortage of foreign exchange reserves, causing the country to struggle with importing petrol and diesel, which in turn has led to rising fuel prices and cost of living.
"Today here in Geita, I bought one liter of petrol for 3,280 Tanzanian Shillings. The Minister of Energy and Minerals, January Makamba, said fuel prices increased because our country doesn't have enough US dollars. So, let's ask ourselves, where have the dollars gone when we have gold mines that should be bringing in significant foreign income," Lissu questioned.
Adding, "Today the country lacks sufficient US dollars to import fuel, because of these reckless mining agreements entered into headlong by CCM governments starting from the late President Benjamin Mkapa's era."
Ends-
GEITA. The Vice-Chairman of the main opposition political party - CHADEMA Mr Tundu Lissu has stated that the value of all the gold mined and sold abroad in the fiscal year 2021/22 was 3.6 billion US Dollars, equivalent to 8.6 trillion Tanzanian Shillings, but the country only earned 85.6 million US Dollars in tax revenue, which equals 1.732 billion Tanzanian Shillings.
"If I am not mistaken, the revenue that the government received is only 0.86 percent of all the money investors took out from our minerals," Mr Lissu said while addressing a public meeting in Geita on Monday, August 7, 2023.
He added, "Here in Geita, where gold worth 1 billion US Dollars, equivalent to 210 billion Tanzanian Shillings, is mined annually, the Municipality received only 700,000 US Dollars in revenue, equivalent to 1.732 billion Tanzanian Shillings. Means the revenue that Geita authorities received is more than zero percent of what the investor collected."
The outspoken opposition leader also mentioned that flawed investment agreements in the mining sector made by the government have led to a shortage of foreign exchange reserves, causing the country to struggle with importing petrol and diesel, which in turn has led to rising fuel prices and cost of living.
"Today here in Geita, I bought one liter of petrol for 3,280 Tanzanian Shillings. The Minister of Energy and Minerals, January Makamba, said fuel prices increased because our country doesn't have enough US dollars. So, let's ask ourselves, where have the dollars gone when we have gold mines that should be bringing in significant foreign income," Lissu questioned.
Adding, "Today the country lacks sufficient US dollars to import fuel, because of these reckless mining agreements entered into headlong by CCM governments starting from the late President Benjamin Mkapa's era."
Ends-
