New law to guide private sector role in the offing: TPSF

A law to guide the development of the private sector in the country is underway, according to the Tanzania Private Sector Foundation (TPSF).

The enactment of the law aims at building a strong and sustainable economic growth.
The Bill, if sails in the House will make membership of private sector to the TPSF –the umbrella for private sector organisations mandatory as it is the case in other countries.

This is according to the current TPSF report of the sub-committee of the task force on strengthening the common voice of the private sector in Tanzania presented during the TPSF extra ordinary general meeting held in Dar es Salaam recently.

“TPSF has been commissioned to draft the Private Sector Development Law and lobby its urgent enactment,” said Mr Salum Shamte, the Chairman of the sub-committee

On the other hand, in order to improve the governance structure of TPSF, the committee recommended a broad structure based on clusters –including special interest groups like women, youths and the disabled.
Mr Salum said the proposed clusters include agriculture, manufacturing/industry, extractive industries, energy, tourism and natural resources.

Others are financial services, trade and commerce; private sector organisations based in Zanzibar, regional business associations and women entrepreneurs.
“Taking into account the fact that the country’s population now stands at 45 million people, there is a need for the private sector to have one voice. This will unite them and foster the development of the country,” said Ester Mkwizu, TPSF board chairperson

Mkwizu added: “Private sector has been a key economic driver, for it to continue playing this role, it must have strong unity, leadership and the guiding laws.”
Source: The Citizen, www.thecitizen.co.tz, reported by Sturmius Mtweve in Dar es Salaam

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