BOT Boss causions on gradual economic transformations in the country

THE Governor of the Central Bank of Tanzania (BOT) Professor Benno Ndulu has causioned that, there is a probability of the national economic downfall if basic necessities such as the power crisis in the country is not tackled so as to pave the way for the manufacturers to increase productivity. He has also warned the government not to keep on raising the cost of living to its people by increasing the prices of consumable goods and services such as power tariffs, which according to him is not a solution to a myriad social problem facing people in the country. Professor Ndulu who is an economist told the nation that, the increase of power tariffs and other services is one way of increasing problems as most manufacturers of goods uses their generators which uses fuel resulting into high cost operations. However, he has instead urged the government to look at how to tackle such problems. Professor Ndulu issued a warning in a one hour talk show interview which is normally conducted by a program presenter Adam Simbeye of this weeks perspective aired on every Friday by national TBC television station in Dar es Salaam.

BOT Governor, Professor Benno Ndulu
During the show, Professor Ndulu was asked by the presenter to highlight his views for the benefit of the country on the economic outlook and its prospects for the next 12 months, whereupon he urged the government to quickly work on the persisting power crisis.
He said the continued electricity power crisis is a large phenomenon which has affected to a large extent every means of production be it small, medium and large enterprises operating in the country, however he added that, everyone should play a role to ward off the existing problem in the country.“If power crisis is solved in the country, the move would help increase the production of foodstuff and people would yield abundant food crops, hence they would be in a position to help curb the looming food insecurity”. He said He has also stressed on the tightening of the liquidity and the availability of cash saying that the combination of these would help people to lead a normal life in the country. He urged the development sectors to play a key role to revive economy back. Other things on the part of national economic development he noted was the government should look at the sector of infrastructure in order to maintain the sustainability of the economy. “Infrastructure is one of the most important thing and if not that the economic growth for individuals in the country would continue to stagnate.