AfricaPress-Tanzania: THE Tanzania Private Sector Foundation (TPSF) has applauded the 2020/2021 budget estimates tabled by the government in the National Assembly recently saying it has focused on reducing production costs to spearhead blue print and protect local industries.
Speaking to journalists in Dar es Salaam over the weekend about the 2020/21 budget estimates the TPSF Chairperson, Ms Angelina Ngalula apart from commending the budget she also noted that it has touched on various key areas of poverty alleviation.
“In this budget estimates we have witnessed the government putting special emphasis on implementing development projects by committing 37 percent of the budget to development projects which is key in speeding up the industrial development, production and creating of employment opportunities for sustainable economic growth,” she said.
Ms Ngalula said for the economy to grow steadily, the private sector must be able to translate budget implementations on their daily activities and use the available opportunities to expand their businesses and investments.
“Tax reductions and removal of various levies makes the business and investment environment friendly and will enhance the growth of these sectors as well as employment creation,” she said.
She congratulated the government for coming up with the budget that focuses on reducing dependence on development partners especially at this juncture when the world is battling Covid-19.
“President John Magufuli has always been emphasizing on reduced dependence especially at this time when the world is facing Covid-19 especially on medical equipment thus we at the private sector should think on the same line by investing on the production of such equipment,” she said.
