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Ooh Poor NSSF!! - What is this?

Discussion in 'Jukwaa la Siasa' started by Mzee Mwanakijiji, Mar 24, 2011.

  1. Mzee Mwanakijiji

    Mzee Mwanakijiji Platinum Member

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    [​IMG] Promises 300 MW by year-end
    [​IMG] To construct bigger gas pipeline



    The National Social Security Fund (NSSF) has decided to invest in power generation, promising to add 300 Megawatts to the national grid before December this year.

    NSSF has also shown interest in acquiring the Kiwira Coal Mine in Mbeya and constructing a large gas pipe from Songosongo and Mnazi Bay to Mkuranga, Dar es Salaam, Tanga and Mwanza.

    This was revealed yesterday in Dar es Salaam by the Fund's Director General, Dr Ramadhan Dau when explaining the institution's future plans to members of the Parliamentary Parastatal Organizations Accounts Committees (POAC) chaired by Kigoma North MP, Zitto Kabwe.

    Dr Dau said NSSF has decided to pitch into energy sector in a bid to rescue the country from power problems which have now resulted into endless rationing.

    He said their consultant was working on the plans, after which the Fund will announce a tender for purchase of electricity plants.

    "We have decided to invest in power due to on-going problems. Our aim is to start producing electricity by end of the year," he said. He told the MPs that the electricity generators will be fixed in Dar es Salaam.

    Concerning Kiwira Dr Dau said they have decided to purchase the mine after the government failed to repay the long outstanding debt of USD 31million.

    He said initially the government borrowed a total of USD 7 million in 2007 to invest in Kiwira Coal Mine with a promise to repay it after six months, but it had failed in its commitment.

    He said the fund is ready to take the mine with all its debts and start afresh. Dr Dau said the mine will produce efficiently under the institution.

    He however, he told the MPs that NSSF plans to construct a huge gas pipeline, to transport the item from the southern regions. He said the current line has no capacity to increase the flow of gas to meet the growing demand.

    He said the pipeline will increase the gas flow for both electricity and domestic consumption, adding that it will facilitate power production at Dar es Salaam and Mkuranga in the Coast region, where they are going to fix another plant.

    "We expect to start implementing these gas projects in two years", he said.
    He also said that NSSF plans to start construction of the long awaited Kigamboni Bridge this year. He said the bridge will be constructed at the cost of USD 120 million.

    He said the delay was caused by lack of funds after NSSF had unsuccessfully requested for funds from Holland. He said that they were requesting a total of EURO 22 million.


    Meanwhile, the committee chairperson, Zitto Kabwe criticised the government for failing to repay in time, money it borrowed from public institutions.

    Kabwe wondered whether the government through Dar es Salaam City Council would be able to repay the funds it had taken from NSSF for construction of the ‘Machinga' Complex.

    He said the Complex was yet to be fully functional as petty traders dillydallied in leasing rooms due to high rental fees.

    "The complex is not functioning. I wonder whether you will accomplish the plan of constructing similar buildings when its president has already promised the same for petty traders in Mwanza," said Zitto.

    Members of Parliament have been pushing the government to allow NSSF to invest in power which includes ownership of Kiwira Coal Mine.

    Last December, the Minister for Energy and Minerals, William Ngeleja said Kiwira would be placed under Tanesco and Stamico, but quickly added that discussions between responsible parties would give a clear direction of the issue.


    THE GUARDIAN


    My Take:

    Not convinced yet. Probably I need to convince them of why their arguments are not convincing enough and why my position is better!
     
  2. Shalom

    Shalom JF-Expert Member

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    Mbona sisi wanachama hawatushirikishi hata siku moja jamani, yaaani fedha ni yetu halafu weneyewe wanatupangia tu. hata aibu hawana , kweli sisi ni majuha!
     
  3. Mzee Mwanakijiji

    Mzee Mwanakijiji Platinum Member

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    Mimi nina uhakika serikali ikitaka NSSF ilipe mishahara ya Walimu au Polisi NSSF italipa bila tatizo..
     
  4. MTAZAMO

    MTAZAMO JF-Expert Member

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    Tatizo mkuu ni kutaka kutumia cashflow nzuri ya nssf ambayo inatokana na infinity contribution kutoka kwa wanachama na sio portfolio's productivity inayotoa assurance ya michango ya watu.nafikiri ifanyike performance evaluation kwa investment zao zote including possibility of bad debt hasa kwa madeni ya serikali kabla hatujazidi kuweka mapesa mengi kwenye investment kubwa hivi,confidence ya nssf kuji involve kwenye mradi huu ni mapesa yaliyopo ambayo nina hofu hayatokani na good performance from their investment,tuwe na uhakika na tija ya miradi tuliyokwisha wekeza tusijekuwa tunatatua tatizo kubwa na kusababisha tatizo kubwa zaidi na uzoefu unaonyesha emergency ktk kushugulikia matatizo hapa tz mara zote njia hizo zimefeli kwa kukosa umakini na kutohusisha wataalamu wa fani tofauti kushauri mfano richmond,njia tatu kupunguza foleni n.k
     
  5. Mzee Mwanakijiji

    Mzee Mwanakijiji Platinum Member

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    Binafsi ningependa Mdhibiti na Mkaguzi Mkuu aambiwe kupitia kwanza vitabu vya NSSF kabla ya kupewa mradi huu mkubwa.. something is def very wrong.
     
  6. FaizaFoxy

    FaizaFoxy JF-Expert Member

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    Kwa hiyo?
     
  7. Mnyamahodzo

    Mnyamahodzo JF-Expert Member

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    Keep on telling them that they are on the wrong track. Unless the law concern investment(s) of these pension funds is changed,we are making "fisadi papas" vs matonya members of the funds.
     
  8. FaizaFoxy

    FaizaFoxy JF-Expert Member

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    "Ooh Poor NSSF!! - What is this?"

    What is so poor about that?

    What do you mean about "What is this?"

    If you do not know what NSSF doing, it's called, diversified investment.

    Its very normal for Social Security Funds, not only in Tanzania, to invest in energy related projects.

    Is there anything wrong with that?
     
  9. MTAZAMO

    MTAZAMO JF-Expert Member

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    Ikiwa CAG basi atangaze tender hasa ipate international recognised Audit firm espicially big 4 ambao kwa mfumo wa utendaji wao itatoka genuine report maana sheria inamruhusu kufanya hivyo maana akiifanya CAG mwenyewe ingawa sheria zinamlinda lakini anaweza kuingiliwa during work in progress ambayo huvuruga report.kama tuna nia njema nafikiri baada ya kuumwa na nyoka tuwe makini na kila tunachofanya hatutaki baadae kuwa na mjadala wa nssf kuomba serikali kuisaidia kulipa wanachama wake!
     
  10. anti-fisadi

    anti-fisadi JF-Expert Member

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    Ndio maana mimi nataka kuchukua changu mapema pale nssf,hili shirika will going to collapse in a very near future.

    Ukiangalia benefits za mwanachama ni chache kuliko maelezo, mtu hata uwe na 120m hawakukopeshi hata 1m tu! Mkisikia wamejenga nyumba,zinaishia kwa mafisadi. Ila kwenye miradi ya serikali ndio kiherehere kimewajaa!

    Sasa kama hawapo kwaajili ya wanachama wao,watakuwepo kwaajili ya watanzania kwa ujumla? Something fishy right here...
     
  11. MTAZAMO

    MTAZAMO JF-Expert Member

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    Diversified investment is not the problem here,is it efficient? Will that additional project(kiwira) on that portfolio increase the value of nssf for the benefits of contributors including(may be) you?
     
  12. MTAZAMO

    MTAZAMO JF-Expert Member

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    wako wataosema tunaingilia kazi za wataalamu wa nssf lakini kama kuna tatizo tutawapa angalizo na kama wanaowataalamu wajibu hoja zetu na sio wanasiasa kuwasemea
     
  13. SMU

    SMU JF-Expert Member

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    Hivi wachangiaji wa huu mfuko (wengi ni waajiriwa katika sekta/makampuni binafsi) wana nafasi yoyote katika kuamua ni kwa namna gani michango yao inatumiwa?
     
  14. MTAZAMO

    MTAZAMO JF-Expert Member

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    zile pesa zetu bana miaka kibao tunadunduliza pale with all most zero interest accrued!
     
  15. POMPO

    POMPO JF-Expert Member

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    Why not NSSF funds TANESCO to impliment those plans/strategies?
    Why NSSF while we have TANESCO? -Contradition- Zitto+ Dau=UFISADI
     
  16. Ntemi Kazwile

    Ntemi Kazwile JF-Expert Member

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    If you read through the lines, you realize the enormous lack of financial management faced by the fund and you wonder how on earth this same institution will ever run a successful business with a capacity to produce 300 Megawats!

    Lets wait and see, I however will be withdrawing my contributions soon before this money burning projects take off
     
  17. i

    iwensato Member

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    Majuzi Mfuko uliandaa mkutano wa siku tatu wa stakeholders ambao ushiriki wake ulikuwa bure kwa mtu yeyote. HUKUSHIRIKI alas!
     
  18. The Finest

    The Finest JF-Expert Member

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    MM people are so greedy baada ya wananchi kugundua ufedhuli wa viongozi now they are trying to adjust things na wanataka watumie NSSF kama mgongo ili wafiche mambo wanayoyafanya nafikiri leo hii mkaguzi mkuu wa Serikali akiambiwa aende kukagua vitabu vya NSSF tutaona mengi not only POOR but its even WORSE huwa najiuliza kwanini NSSF are pushing so hard in investing in KIWIRA, TANESCO NA NSSF yote ni maslahi ya nchi NSSF wanatumia hela za wanachama kama vile ni za kwao, TANESCO ndio wana expertise na power generation, swali nalojiuliza kwanini TANESCO isipewe KIWIRA, NSSF wao hawana expertise ya umeme na ni lazima wataingia joint venture na kampuni nyingine (ambayo EL&RA na mkulu wanaweza kuwa in this deal) kwanini NSSF wasitoe hela na wapate interest ya 10% kila mwaka kama ilivyo kwenye vitega uchumi vyao vingine iwe rahisi kwa TANESCO kugenerate power which will be profitable.

    Kinachoendelea huko nyuma kinajulikana so its just the matter of time things will come in the light
     
  19. samora10

    samora10 JF-Expert Member

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    hela zetu zinapotumiwa kwa maamuzi ya wajinga wachache,

    wenye IQ ndogo wameshindwa kufikiria njia mbadala ya kuondoa tatizo la nishati ya umeme.. wakaona watumie hela zetu sisi majuha

    narudia tena NSSF ni kitengo fulani ndani ya CCM period!! i wish ningeweza kuchukua hela yangu sasa hivi:embarassed2:
     
  20. POMPO

    POMPO JF-Expert Member

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    POOR THINKING POOR ARGUMENT POOR DECISION AND your poor quetions and your comment poor too. PL- CRITICAL THINKING AND ARGUMENTATION- Ulipata F?
     
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