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Dar es Salaam – The Government's Will to Improve Financial Discipline in Fund Management in Regulatory and Executive Agencies, as well as in Public Enterprises, Has begun to Deliver Results positive.
A notable result of this situation is manifested in the growing number of public institutions that are currently handing cash to the state coffers in one form or another.
No law requires executive and regulatory agencies to remit part of their annual income. Most of them used surplus funds as they intended – including erecting multi-storey buildings, holding unnecessary seminars and board meetings.
The government enacted various amendments through the 2011 Finance Act requiring public bodies to remit 15% of their gross revenues to the national treasury.
The law became even more restrictive with President John Ma Receiving a total of Sh736.36 billion in dividends and income shares from 43 companies and regulatory bodies in Dar es Salaam yesterday, Dr. Magufuli asked the Treasurer to write off companies and regulators. The amount of 736.36 billion shillings represents an increase of 586.9 percent over the Sh 107.2 billion received by the government during the 2013/14 financial year. positive trend, the government does not get its legitimate share. What we have invested in these institutions and businesses is not what we received in return, "said Dr. Magufuli, revealing that the government has invested a total of 495 billion shillings in public institutions
. Institutions are required to pay dividends / income to the government, said the president, only 43 did it yesterday.
Speaking earlier, Treasurer Athumani Mbuttuka said that more than half of public institutions The Minister of Finance and Planning, Philip Mpango, said that the government should increase the Treasurer's budget and manpower to strengthen his capacity to effectively monitor the institutions.
He also stated that public institutions that do not pay dividends to the government risk being sued in court. this against them
. The managerial authorities of the institutions that failed to pay dividends assessed themselves before harsh measures were taken against them, "said Dr. Mpango
congratulating the Tanzanian Communications Regulatory Authority (TCRA) for the Ngorongoro Conservation Authority (NCAA) and the National Parks Authority of Tanzania (Tanapa) for exceeding targeted dividends, the minister urged other institutions to follow suit in the 39, interest of the country
According to Dr. Mpango, the TCRA paid 59.8 billion shillings to the government., Against the set target of 30.69 billion Sh. NCA paid 22.35 billion shillings against the goal of 13.4 billion shillings, while Tanapa paid 34.74 billion shillings, well above the targeted dividend of Sh 30.69 billion.
"The three institutions have done a commendable job. Emulate them, "said Minister Mpango, to the public applause
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