Proposed Law Will Tighten Probe On Top State Firms in Tanzania

Three of Tanzania's profitable public companies will be subject to tighter government controls over their spending habits under a proposed fiscal law. One of the Finance Bill of 2021's key proposals is the introduction of a requirement for the Tanzania Ports Authority (TPA), Tanzania Communications Regulatory Authority (TCRA) and Tanzania Shipping Agencies Corporation (TASAC) to deposit all their revenue in a government-operated central bank account and their subsequent expense funds doled out by the Paymaster-General in line with approved budgets.

The bill was subjected to public hearing on June 18 and 19 before being formally tabled in Parliament for discussion and passed on June 22. It is expected to be approved and be operational on July 1 as the Finance Act of 2021.

InFocus

The Tanzania Ports Authority, Tanzania Communications Regulatory Authority and Tanzania Shipping Agencies Corporation have come under scrutiny for questionable operational practices.

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