Govt explains how 1.51tri/- was spent

The Finance and Planning Deputy Minister, Dr Ashatu Kijaji has told the Parliament, Friday morning, that there is no missing or misused 1.51tri/- out of Bunge consent, as some politicians claimed in recent days.

Giving the Government stance, the Deputy Minister said the use of International Public Sector Accounting Standards Accrual (IPSAS), the system has brought more transparency in public accounting, enabling public entities to take informed decisions.

According to Wikipedia, “International Public Sector Accounting Standards (IPSAS) are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements.

These standards are based on International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB).” Until June 30, 2017, according to the Deputy Minister, the total income was 24.3tri/- while expenditures amounted to 23.79 adding that “These expenditures didn’t include 697.85bn/- which were not yet reallocated during the auditing exercise,” she added.

She said the Government is cautious and can’t afford losing public monies insisting “every collected cash is deemed to benefit citizens of Tanzania.”