State finally frees 28 State Owned enterprises.

Imewekwa: August 21st, 2023

ARUSHA: A total of 28 state-owned enterprises including the Tanzania Petroleum Development Corporation (TPDC) and the State Mining Corporation (STAMICO) will be freed this week, a senior government official said on Saturday in Arusha.

Treasury Registrar, Mr. Nehemiah Mchechu told President Samia Suluhu Hassan at a working session bringing together Board Chairperson and CEOs of Public Institutions in Arusha that the firms will now be independent from the government donation.

The institutions which have all not been revealed include 13 High Learning Public Institutions. Mchechu said the new developments are a result of ongoing transformation in public institutions across the country.

“We have reached consensus with Chairpersons and Directors of these entities. We want to see more firms operate independently,” he said.

Mchechu went on to note that some institutions have however requested an extension of up to two years of support to become fully independent.

Details from the Office of Treasury Registrar shows the President is expected to award some firms that performed well during the financial year 2022/23.