Dodoma — Arusha Urban Member of Parliament (MP) Mrisho Gambo on Thursday, May 6, 2021 said $10 million from the National Social Security Funds (NSSF) was injected for General Tyres Company Ltd's revival has not brought the desired outcome.
Mr Gambo also said five hectares of land was sold by an investor at the Tanzania Pharmaceuticals Industries (TPI) at Sh3.5 billion to another investor.
Responding to the MP, Deputy Minister of Agriculture Hussein Bashe on behalf of the Industry and Trade Minister Geoffrey Mwambe admitted disbursement of the fund without bringing intended results.
"That's why the government has decided to take full ownership of the company in order of give it to a capable investor after taking complete ownership of all shares," he said.
When the Questions and Answers session was over, with the minister of Water Jumaa Aweso about to start tabling his budget estimates for 2021/22, Mr Gambo rose to express his dissatisfaction after asking Deputy Speaker's Guidance through Regulation 76.
"$10 million has been taken from workers' contributions for investment at the General Tyres Company Limited, but nothing has happened. The company has suspended production for the last 14 years and workers remain unpaid," he said, adding.
"But the money has done nothing, likewise for the TPI. It's better that we know everything about the government's money and the fate of these companies."
Responding, Deputy Speaker, Dr Tulia Ackson said the Regulation requires the MP to submit his concerns afresh to the government as a new question in order to get complete responses.
In his main question, Mr Gambo sought to know the government strategies to revive the two companies.
In his response, Mr Bashe said the government through the National Development Corporation (NDC) was looking for an investor capable of investing modern technology at the General Tyres Company Limited in order to meet new market demands.
He said the government has already floated a tender to look for an investor following a study report from a team of experts formed by the government through NDC aimed to evaluate and establish best ways of running the company," he told the Parliament, adding.
"Study findings shows that plants and technology at the factory were outdated, therefore requiring the new technology in order to bring production efficiency."