| To ensure that ongoing gas exploration and subsequent planned production benefits the country, the Ministry of Energy and Minerals is to create a Sovereign Wealth Fund (SWF) that will serve as a catalyst for future national development projects fueled by the gas and oil sectors.
Addressing stakeholders at the Tanzania Oil and Gas Conference and Exhibition (TOGACE) mid week in Dar es Salaam, Deputy Minister Masele also announced plans to table a bill in parliament geared at controlling expenditure of revenue collected from natural resources. The Deputy Minister warned that Tanzania may suffer an economic recession should it commit itself to gas production expenditures instead of development projects...............................................Full Article: Source
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