[ad_1]
Dodoma The Public Accounts Committee (PAC) said yesterday that members of the National Social Security Fund (NSSF) could lose about 27.1 billion shillings because of investments in seven projects, described as "uneconomic" by the committee.
CCP Chair Naghenjwa Kaboyoka said the NSSF had invested in projects that were not economically viable.
Projects include the construction of the Apollo Hospital, the construction of the commercial and high commission building in Kenya, energy production in Mkuranga, construction of houses in Kiseke and Bugarika in the Mwanza region.
Other projects include the construction of field houses number 249 of Njiro in the Arusha region, the transport terminal of Mwandiga and the purchase of land in the coastal areas and Dar es Salaam .
Kaboyoka said that despite the billions of dollars, some projects had been abandoned halfway.
She added that the NSSF had no title to some of the land she had purchased.
Worse still, the president of the PAC said that some lands had been invaded by people.
"All this jeopardizes the money belonging to the NSSF members," warned Ms. Kaboyoka.
Magu MP Bonevetura Kiswaga (CCM) said that, as it stands, the purchase of land by the NSSF for investment bore all the hallmarks of embezzlement.
He suggested that the government should launch thorough investigations and take action against all those involved in the purchase of land for investment purposes.
"It is high time for the guilty parties to be brought to justice," Kiswaga said.
Nyamagana MP, Stanslaus Mabula, suggested that the NSSF government and council should ensure that investments are guided by the guidelines of the Social Security Regulatory Authority (SSRA) and the Bank of Tanzania ( BoT).
"We need to invest in profitable projects, and to do this, the feasibility study is critical to any investment," said Mabula.
Source link
