Dropboxs 7 Billion Ipo Is A Third From Peak Valuation

PRESIDENT John Magufuli yesterday advised local investors and traders to establish pharmaceutical industries in the country to save the government from ordering drugs from abroad.

The Head of State said 100 per cent of drugs in Tanzania hospitals are ordered from outside the country and that investors need to exploit the opportunity in the health sector.

Dr Magufuli was addressing residents of Kahama District in Shinyanga Region before commissioning the 132 kilometres Isaka- Ushirombo-Lusahunga road.

“I would like to tell local traders to establish pharmaceutical industries; my government imports drugs at high cost every month, traders should stop complaining, there are many opportunities to invest in,” said the Head of State.

He said the government is doing everything in its powers to ensure better health services and that it has been setting various strategies to improve hospitals, health centresand dispensaries across the country.

He said the government is aware of the efforts that have been applied by MPs and other officials in Shinyanga Region to ensure health services are accessed by all Tanzanians.

“We will continue to work closely with ‘wananchi’ to ensure health services are improved, our aim is to ensure quality health services to our people,” said the President.

He added, “We spend millions of shillings in buying drugs for our people from abroad every month, this money could remain here to our traders, therefore, the best thing is to build pharmaceutical industries.

” Commenting on the new road, PresidentMagufuli said the government has spent 195bn/- for construction of the 132 kilometres road.

He said the road has been constructed using internal revenues. “We have spent 195bn/- on this road from our own sources,” he said.

He asked all Tanzanians to continue paying tax as required for the country’s development. He said whoever wants to know how money is spent is invited to go and see Isaka-Ushirombo- Lusahunga road.

“Whoever wants to know how tax is spent is invited to come and see this road, the government is using tax for development projects like these, we are here to serve the public,” he said.

On minerals, the Head of State said his government has tightened all loopholes and that the revenues from the sector have been increasing from year to year.

He said in 2014/15 a total of 168bn/- was collected from the sector, in 2015/16 at least 205.21bn/- was collected and in 2016/17 a total of 213bn/- was obtained from the sector.

He added that from 2017 to February, this year, a total of 200.8bn/- has already been collected from the sector. “We have managed to improve revenue because we decided to take stern measures; we changed some laws and tightened every loophole.

We are blessed with minerals, therefore, those who come for them must pay us,” he said.” Moreover, Dr Magufuli ordered ‘wananchi’ who built houses on the land that belonged to the Ministry of Education, Science and Technology to continue with their normal activities as usual.

The Ministry of Education, Science and Technology had allocated at least 348 acres of land at Mwave area in Kahama District for the construction of the Institute of Community Development in Kahama District.

However, ‘wananchi’ invaded a total of 308 acres and built their residential houses. Yesterday, the Head of State said the Ministry should build the college on the remaining 40 acres and that no single house should be demolished in the area.

Earlier, Deputy Minister of Works, Transport and Communication, Elias Kwandikwa said the new modern road will help to boost business in the Lake Zone and neighbouring countries at large

. He said the road is expected to easy transportation of people and commodities, improve business and strengthen social services in the area. The Shinyanga Regional Commissioner (RC), Ms Zainab Telack, said the region is well prepared to face challenges.

She said ‘wananchi’ in the region are engaging in various economic activities, including agriculture and that they expect enough harvests in the coming season.

She said the region has responded well in building up an industrial based economy and that at least 13 industries are being built in the region at the moment.

“We have allocated enough land for investors and we have already set strategies to invite them in the region; we also encourage entrepreneurs to engage in businesses in various parts of the region,” said the RC