17 May 2014

Tanzania: Gas Policy Highlights Transparency

Dodoma — THE 2013 Natural Gas Policy states that the formation and implementation of the Natural Gas Fund will highlight transparency, distribution consumption and good governance in funds collected from sales.

This was said by the Deputy Minister of Energy and Minerals, Stephen Masele, when he was responding to a question from Igagula Member of Parliament Engineer, Rashid Mfutakamba (CCM).

The legislator wanted to know what plans government has in managing the sale of natural gas through the formation of Sovereign Wealth Fund.

"To ensure total transparency, operational principals will be passed through national dialogue on the use and control on the funds," said the deputy minister.

Mr Masele said that the fund will have operational principles will take into consideration needs of the country, adding that it will ensure it involves plans and development activities.

The deputy minister said that one of the targets of the fund is to ensure that the natural resources benefit current and future generations.

He further said that because natural gas does not last forever, the 2003 Natural Gas Policy has ensured that the controlling principles include transparency and national dialogue, adding that it will fall under the Bank of Tanzania.

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