Adopt policy to recognise the private sector reforms  

13Jul 2020
The Guardian
Adopt policy to recognise the private sector reforms  

​​​​​​​THE Tanzania Private Sector Foundation (TPSF) in Dodoma Region has appealed to the government to adopt a policy that would recognise and develop the country’s private sector for nation economic growth from the middle income status recently announced by the World bank.

The appeal was made here yesterday by a TPSF representative in Dodoma Region Ringo Iringo when speaking to reporters.

Ringo said as TPSF they hail the government over its efforts that has helped the nation to enter the list of world countries with middle income.

He said despite the middle income status, there was still need for the government to ensure to bring up a policy to recognize the country’s private sector to increase the pace of economic growth.

“There is neither policy no law for the recognition of the private sector because it is an important pillar for economic growth, hence we ask the government to bring up this important policy,” said Ringo.

He said the policy will enable the private sector to advance as it will be certain in accessing long term loans from financial institutions, that would assist in the increase of production of goods for export and earn foreign exchange.

“Our Kenya neighbours attained the middle income status a long time ago and that is why you can see they are exporting more than us due to access to finance,” he added.

He also called upon the country’s financial institutions to change their view in the provision of loans and start funding the agriculture, livestock and tourism sectors.

“These sectors will assist in the nation’s economic growth as through agriculture we can obtain raw materials that will assist produce better products for export and earn foreign currency,” he said.

Eva Mpagama, a Dodoma entrepreneur hailed the government, especially the Tanzania Revenue Authority (TRA) for working in a friendly environment with traders.

“In the President John Magufuli phase, we traders have not been running away from TRA, and this is because they work with us in a friendly atmosphere, quite different as it was in the past,” she said.

She also called upon the government to ensure it puts in place a friendly environment in accessing loans by removing the current tough conditions.