300 Billion from Stanbic Bank goes unaccounted

[Mshume Kiyate]

Nchi yetu ina matatizo mengi sana

 

[Mtumishi Wetu]

Billion 300 Zimetoweka...

By Sylvester Joseph

According to various reports, the government went into the 2011/2012 Government’s financial budget with a local debt of 800bn/- on road constructions in the country.


But secrecy surrounds the dispensing of the debt and the manner used to raise funds unconventionally while the accounts don’t match leaving a big gap of unaccounted expenditure of bigger volumes.


The debt of 800bn/- was not included in the budget by bizarre observation that the money will be raised from private sources contrary to public finance procedure that wants having a budget then to follow expropriations to meet that budget. This was not done is costing headaches to all people involved.


This amount was not included in the Ministry of Works’ budget because that government claimed that it will outsource the money to offset the debt. It later borrowed 400bn/ from Stanbic Bank, but only remitted 100bn/- to the ministry of Works.


“Where is the other 300bn/- is a one million question that remains unanswered. The bankers have confirmed payment but the government is not ready to talk,” observed one financial analyst.

The African has learnt that in another stunning revelation, among the 1.4trillion shillings allocated to the ministry of Works budget we have reports that only 50bn/- have so far been released by the Treasury to the Ministry.

Critics now ask; where is the money which was borrowed from Stanbic bank and the rest of government’s allocations?

To prove the severity of the problem it has been realized that the continuity of road constructions in the country is in limbo after contractors threaten to suspend sections of road construction projects because of Government laxity to settle their long overdue debts.

Section of contractors who spoke to The African in Dar es Salaam yesterday expressed their disappointment on the Government and warned that if the Government does not act first, the on going road construction projects in the country will be paralyzed.

The Chinese Contactors Association in Tanzania –which comprises of 20 Chinese construction companies-, voiced their grievances against the Government, claiming that according to an incomplete statistics, the Government owes them more than 287.1bn/-.

According to them, the prolonged and delayed payment problem exists since 2009 and it turned to be unbearable since early this year.

Wang Jingli, Chairman of Chinese Contractors’ Association (Tanzania), said his member companies had exhausted their line of credits, a reason why some companies have stopped working on some projects.

“Among the 3,673.9 km of truck roads under construction, 2,405.6km are being built by our member companies. It is around 65.5 per cent of the total length.

“As much as we understand, the urgency and importance of the unfinished roads to the growth of Tanzania economy, our hands are tied as we have already used up our resources. If the Government does not act pronto, all current roads under construction may stop.


“Before things get worse, we hope the Tanzania Government should be fully and highly aware of the financial plight repeatedly incurred and experienced by these companies. The Government should honour the signed contracts and expedite the payments of the huge amount of money due to our member companies without any further delay,” he said.

Jingli claimed that they have made efforts of writing to the Ministry of Works, Tanzania National Roads Agencies (TANROADS) and forwarded the same letters to the Ministry of Finance, calling upon the Government to settle its bills, but in vain.

According to a cross section of these Chinese contractors, some payments have delayed for more than three years now.

Among the Chinese companies which the Government owes most is the China Henan International Cooperation Group Co. Ltd (CHICO), which demands USD 80,766,590.10 and Sinohydro with its USD 28,216,161 unpaid.

While the Government continues to delay payment to these companies, inflation rate continues to rise and the value of Tanzania shilling against US Dollar continues to drop drastically. With further delay, the country stands a chance to lose a great deal.

The African

Hapa tumgojee Faiza Fox ataingia na utetezi wake tuu, subiri uone!!!!!!!!!!!!!!!!!!!

 

[Biz2geza]

nilipokusoma tu mpwa nikaweka wimbo wa rose mhando nibebe nibebeeeee nibembeleze nibebeeeee mikononi mwako nifike salamaaaaaaaaaaaaa

Ndugu yangu Nchi hii ukistaajabu ya Mussa utaona ya firauni......yaan wakati mwingine ukifuatilia sana haya mambo unaweza kuwa mento, interest inalipwa kwa kodi za wavuja jasho.

 

[Biz2geza]

Nchi yetu ina matatizo mengi sana

"Lakini watawala hilo hawalikubali na wala hawataki kulisikia....... Methali hii nafikiri inahusika hapa Mficha maradhi ugonjwa umuumbua."

 

[Tangawizi]

Nchi yetu ndani ya awamu ya nne. Kichaa kapewa lungu

 

[Keykey]

Some details missing? 300bn. ni kiasi kikubwa, kama haikwenda kwenye barabara basi itakuwa imeelekezwa kwenye matumizi mengine. Ukifuatilia hapa utakuta huenda ni posho za wabunge na ruzuku za vyama vya siasa?

 

[UmkhontoweSizwe]

​Yawezekana zimeheweshwa ili ziwe tayari kwa uchaguzi 2015.

 

[amkawewe]

Escrow?

 

[Mssesejunior]

Escrow?

Another escrow; thia isnt strange;! kwa wale ambao wako kwenye siasa wanajua kua utawala ukiitaji fedha ambayo matumizi yake sio justifiable ama yana mashaka other means should be used to outsource the money. Mara nying njia hizo si njia halali bali znaziambatana na kutofuata taratibu ama kuzidisha gharama kwenye miradi mikubwa. Cha msingi ni ela ipatkane iwe ya escrow ama ya mikataba ya gas au ujenz wa bomba la gas you just need to make evrything x2 or ×3 Usishange hata kwenye siasa kuna mathematics

 

[Mssesejunior]

Escrow?

Another escrow; this isnt strange;! kwa wale ambao wako kwenye siasa wanajua kua utawala ukiitaji fedha ambayo matumizi yake sio justifiable ama yana mashaka other means should be used to outsource the money. Mara nying njia hizo si njia halali bali znaziambatana na kutofuata taratibu ama kuzidisha gharama kwenye miradi mikubwa. Cha msingi ni ela ipatkane iwe ya escrow ama ya mikataba ya gas au ujenz wa bomba la gas you just need to make evrything x2 or ×3 Usishange hata kwenye siasa kuna mathematics

 

[lukindo]

Hivi si wanasema Kamishina Mkuu wa Mamlaka ya Mapato Tanzania - TRA wa sasa kipindi hio alikuwa na kaubosi kwenye hiyo benki!? Wezee wa kuconnect dots hebu tusaidie kidogo hapo!

 

[Mnasihi]

Na ili tuyajue mengi yaliyomo mvunguni tumfukuze huyo mpangaji wa magogoni 2015. Mbona patakuwa hapatoshi!.
Hivi hakuna auditing katika pesa za umma siku hizi?. Hawa wanasiasa wana nguvu kubwa kiasi gani cha kuiingilia hazina watakavyo?.
Ifike mahali hawa wataalamu walioajiriwa kwenye taasisi za fedha wakatae kuwa sehemu ya kuuwezesha ufisadi ili kulinda taaluma zao na heshima ya kazi zao yaani wawe wazalendo.

 

[LUS0MYA]

Kwani magufuli naye ametangaza nia?naona mdogo mdogo mmeanza.spika alisema Mungu pekee ndo anamjua rais wa nchi hii!mnahangaika kitu gani?