A SPECIAL audit to establish the whereabouts of 48bn/- which was part of a stimulus package offered by the government to the struggling private sector to service their bank loans, will soon be conducted and its report tabled in Parliament. Deputy Minister for Finance , Saada Mkuya Salum, told Parliament that currently Bank of Tanzania (BoT) is working on a preliminary report regarding disbursement of the 1.7trn/- package which President Jakaya Kikwete's government gave the private sector during the 2009/10 global financial crisis. Responding to a supplementary question by Kigoma North legislator (Chadema), Zitto Kabwe , Ms Salum said findings of the audit will be presented in Parliament. Mr Kabwe had wanted to know when the government will table the audit report following reports that part of the money was misappropriated by dishonest public officials. In the main question posed by Vunjo legislator (TLP), Augustine Mrema who wanted to know why Kilimanjaro coffee farmers were not compensated for their loss caused by falling global commodity prices while their cotton peers got compensation. "The government offered the stimulus package for a specific period of time and beneficiaries had to meet certain criteria including being affected by the recession. KNCU did not do that," Salum said. She revealed that coffee farmers through Tanzania Coffee Board (TCB) submitted a request for 20.07bn/- as compensation of which 9.87bn/- was paid. "Some 9.32bn/- was paid through CRDB and 551.51m/- was paid through Kilimanjaro Cooperative Bank Limited (KCBL) whereby coffee farmers from 60 cooperatives were paid through CRDB while KCBL paid to 22 cooperatives," she noted. Salum further noted that 9.32bn/- was compensated to cotton farmers and was paid through CRDB, Tanzania Investment Bank , KCBL and Exim Bank Tanzania Limited . The deputy minister pointed out that compensation was paid to those farmers who did show proof of being affected by the recession. "Those who qualified for compensation had to submit their request between July 1, 2009 and June 30, 2010 ," she stressed. Meanwhile, over 77 per cent of borrowers at Tanzania Women's Bank (TWB) are women themselves while the rest are men. Deputy Minister for Community Development , Gender and Children, Umi Mwalimu told Parliament yesterday that TWB will soon open a branch in Zanzibar to extend its services to women in the isles. Responding to questions from Special Seats lawmaker (CCM), Faida Bakar who wanted to know when will TWB open its branch in Zanzibar and whether there is any budget allocation for the branch office, Mwalimu said funds for the rehabilitation of the branch's building will be allocated after experts submit a valuation report. "TWB Managing Director, Margaret Chacha , has already been to Zanzibar and consulted with People's Bank of Zanzibar (PBZ) counterparts of the subject," Mwalimu said.
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