Ipo hapa (Just a part ya mambo ya quality garage)
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MP wants PSPF probe expedited
THISDAY REPORTER
Kigoma
A MEMBER of Parliament yesterday called for a swift parliamentary probe into the 36bn/- Quality Plaza deal, saying it was in the interest of the public to reveal the truth behind the suspect deal.
Mr Kabwe Zuberi Zitto, told a public rally at Mahembe village in his Kigoma North Constituency yesterday that the people were anxious for answers on the controversial transaction.
The lawmaker, who is also a member of the Parliamentary Finance and Economic Affairs Committee, called for the speedy formation of a parliamentary probe committee, which he said was awaiting green light from the office of the Speaker so that members of the probe team could be appointed.
Mr Zitto made the remarks when responding to various questions from members of the public who had gathered at his public rally.
One villager, Mr Ezekiel Samwel, wanted to know when the planned parliamentary probe into the deal between the Public Service Pensions Fund (PSPF) and Quality Group Limited would start.
I have confidence with (National Assembly) Speaker, Samwel Sitta, since he is a very credible and upright man of high integrity. I hope he will allow us to form a probe committee soon, said Mr Kabwe.
He added: If there are any questions, the Speaker can request the minutes of our committee meetings which clearly state the decision of members of the committee to form a probe team.
Mr Kabwe noted that while the government has been speaking strongly against corruption, there seems to be an emerging pattern of foot-dragging and dilly-dallying when it came to dealing with allegations against the Quality Plaza deal.
There is a clear case to act and nothing has been done yet ... There are no so-called personal grudges between Reginald Mengi and Manji here, its the issue of your money -- taxpayers money, he stressed.
The MP told the rally he was confident that the Speaker would act decisively on the matter.
Members of the Parliamentary Finance and Economic Affairs Committee recently resolved to form a probe team to conduct a special audit investigation on the deal.
The committees chairman, Dr Abdallah Kigoda, or his deputy, Mr Adam Kighoma Malima, were expected to inform the Speaker of the National Assembly in writing on the formation of the probe committee and seek his approval.
The terms of reference that have already been drafted task the would-be probe committee with probing the decision of the management of PSPF to buy shares into Quality Plaza Limited, instead of just purchasing the property.
The probe is also expected to centre on the move by former owners of Quality Plaza Limited to push up the value of the company from 30bn/- to 36bn/-, just a few days before the purchase agreement was signed.
Furthermore, lawmakers are to investigate if the additional 6bn/- capitalization was actually paid up by the former shareholders of the company -- Quality Group Limited (95 per cent) and Mr Mehboob Manji (5 per cent).
The former owners of Quality Plaza Limited had filed a notice of increase in the nominal capital of the company from 30bn/- to 36bn/- before the Business Registrations and Licensing Agency (BRELA) on November 10, 2004.
Just six days later (November 16, 2004), the PSPF Board of Trustees approved recommendations of the management of the pensions fund to buy Quality Plaza Limited for the magic 36bn/- figure.
Members of Parliament have agreed to incorporate representatives from the Prevention of Corruption Bureau (PCB) and the Controller and Auditor-Generals office in the planned probe.
According to the terms of reference for the probe committee, the accounts of Quality Plaza Limited before and after the sale are also to be scrutinized to ascertain its true financial position.
The probe team is also to be tasked with investigating the reasons for the former owners of Quality Plaza to sell 100 per cent of their shares if the company was truly profitable.
The controversial valuation of the property would further be probed, along with the decision of PSPF to use a restrictive tendering procedure to pick the valuer for the property.
The motive behind the investment, projected cash flow and other financial aspects of the transactions are also to be analyzed by the team.
Investigations by THISDAY have revealed that PSPF does not own the land where Quality Plaza is located despite paying staggering amounts for the property. The main title is owned by a woman identified as Hasina Gulamhussein.
Furthermore, the Quality Plaza building has a total of 11 sub-titles, of which only 9 have been formally handed over to PSPF after the sale.
The owner(s) of the two remaining sub-titles to the building remain a mystery.