Govt pledges to strengthen shilling

By DAILY NEWS Reporter

THE government has pledged to strengthen the value of the shilling by curbing inflation and promote exports of value added goods through ‘export credit guarantee scheme’. This was said at the National Assembly in Dodoma yesterday by the Deputy Minister for Finance and Planning, Dr Ashatu Kijaji while responding to a question from special seats MP Ms Devotha Minja.

Ms Minja wanted to know the government’s measures on strengthening the shilling value citing, particular case of some landlords who were still charging their clients in US dollars, thus contributing to shilling depreciation. Dr Kijaji said the other government initiative in strengthening the local currency was to limit unnecessary expenditures in foreign currencies.
She said the use of foreign currency and the shilling in the country is regulated by The Foreign Exchange Act, 1992, Bank of Tanzania Act 2006 and the government notice of 2007 on the use of foreign currency to pay for goods and services in the domestic market.
She said in December last year, the Minister for Finance and Planning issued the government notice directing all prices in the country to be pegged in shilling including school fees in various private schools, hotels accommodation, housing and office rentals