| The government will put in place transparent procedures on how to make decisions on expenditure of earnings from natural gas resources, including investing in sovereign wealth fund, the Parliament was told. Deputy Finance Minister, Mr Adam Malima, said in Parliament yesterday that the government will put in place the said procedures in a legal framework to govern exploitation of resources which is currently being prepared.
Mr Malima was responding to a question from Mr Athuman Mfutakamba (Igalula - CCM), who asked whether it is appropriate to invest in Sovereign Wealth Fund when Tanzania begins commercial exploitation of natural gas and petrol. Tanzania’s profile has been transformed from that of a least developed country to one of the hottest for the global energy industry, due to the discovery of offshore gas potential of 53.5 trillion cubic feet...............................................Full Article: Source
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