{"id":8624,"date":"2020-05-13T18:01:10","date_gmt":"2020-05-13T18:01:10","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=8624"},"modified":"2020-05-13T18:01:10","modified_gmt":"2020-05-13T18:01:10","slug":"manufacturing-sector-assessment-on-covid-19-impact-sheds-light","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light","title":{"rendered":"MANUFACTURING SECTOR ASSESSMENT ON COVID-19 IMPACT SHEDS LIGHT"},"content":{"rendered":"

AfricaPress-Tanzania:<\/strong> ANALYSTS have said the assessment report on the impact of coronavirus pandemic to the industrial sector by the Confederation of Tanzania Industries (CTI) will shed light on post-recovery plan.<\/p>\n

The report showed that almost 98 percent of the respondents confirmed that their businesses have been affected by virus contagion\u2014 indicting dropping of sales revenue and production by over 50 percent.<\/p>\n

Also they envisaged to cut jobs by over 50 percent.<\/p>\n

An investment banker\u00a0at the TIB Development, Dr Hildebrand Shayo said in Dar es Salaam yesterday that CTI has provided their reaction on Covid-19 on businesses which is a good beginning of understanding of the magnitude of the challenges that lies ahead for manufacturing sector.<\/p>\n

The impact of Covid-19 to the manufacturing sector will be felt in the second half of the year but this depends much on government interventions to rescue the situation.<\/p>\n

He said loss in sales, production and employment stated in the report is tip of the ice.<\/p>\n

\u201cCTI report should have been more useful if it would have related its findings with previous economic losses from past epidemics. As it is hanging,\u201d Dr Shayo said.<\/p>\n

The estimated costs of epidemics vary significantly, depending on their severity and how they were dealt with.<\/p>\n

\u201c\u2026Manufacturing firm\u2019s will experience full knockeffect especially caused by the second waives facing supply chain disruptions, more changes will be anticipated in the third and fourth quarters [of this year],\u201d Dr Shayo said.<\/p>\n

He however, said the report didn\u2019t indicate local solutions since the country hasn\u2019t imposed total social restriction.<\/p>\n

\u201cOne should have expected CTI based on this survey to put before the government especially during this budget session with practical ideas that can be accommodated in the tax measures. \u201cSimilarly, local context ideas, which could fit in with our banking structure,\u201d Dr Shayo said.<\/p>\n

Although, he said, CTI has provided their reaction on Covid-19 on businesses which is a good beginning of understanding of the magnitude of the challenges that lies ahead for manufacturing sector.<\/p>\n","protected":false},"excerpt":{"rendered":"

AfricaPress-Tanzania: ANALYSTS have said the assessment report on the impact of coronavirus pandemic to the industrial sector by the Confederation of Tanzania Industries (CTI) will shed light on post-recovery plan. The report showed that almost 98 percent of the respondents confirmed that their businesses have been affected by virus contagion\u2014 indicting dropping of sales revenue […]<\/p>\n","protected":false},"author":84,"featured_media":8620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[2124,2184,3830],"class_list":["post-8624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-cti","tag-hildebrand-shayo","tag-tib-development"],"yoast_head":"\nMANUFACTURING SECTOR ASSESSMENT ON COVID-19 IMPACT SHEDS LIGHT - Tanzania<\/title>\n<meta name=\"description\" content=\"ANALYSTS have said the assessment report on the impact of coronavirus pandemic to industrial sector by the Confederation of Tanzania Industries (CTI)\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MANUFACTURING SECTOR ASSESSMENT ON COVID-19 IMPACT SHEDS LIGHT\" \/>\n<meta property=\"og:description\" content=\"ANALYSTS have said the assessment report on the impact of coronavirus pandemic to industrial sector by the Confederation of Tanzania Industries (CTI)\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-05-13T18:01:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/05\/9396c8a99b1ff543e5b6f6a08b4d15a1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"581\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"MANUFACTURING SECTOR ASSESSMENT ON COVID-19 IMPACT SHEDS LIGHT\",\"datePublished\":\"2020-05-13T18:01:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light\"},\"wordCount\":341,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2020\/05\/9396c8a99b1ff543e5b6f6a08b4d15a1.jpg\",\"keywords\":[\"CTI\",\"Hildebrand Shayo\",\"TIB Development\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/economy\/manufacturing-sector-assessment-on-covid-19-impact-sheds-light\",\"name\":\"MANUFACTURING SECTOR ASSESSMENT ON COVID-19 IMPACT SHEDS LIGHT - 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