| WISE CHOICES NEEDED AFTER GAS DISCOVERY | Send to a friend |
| Wednesday, 25 January 2012 21:40 |
 The government has confirmed that the country has large gas reserves that could attract investments worth billions of dollars in the next five years. This is great news for any country, but the story gets even better still.According to Finance and Economic Affairs minister Mustafa Mkulo, the gas supplies could be so significant that the country may well join the league of big exporters such as Algeria, Australia and Qatar. Indeed, some experts believe most of the country’s revenue and exports could eventually come from the sale of natural gas, depending on how favourable the investment climate is. This is the crux of the matter. We are aware that the government has taken some initiatives to prepare the country for the huge investment. These plans, according to Mr Mkulo, include drafting of the natural gas master plan and the gas and petroleum revenue management bill. The Planning Commission and the Tanzania Revenue Authority will prepare a report by the end of this year identifying the steps necessary to prepare for Tanzania’s macroeconomic management of the new gas economy. We commend the government’s initiatives so far. Vital resources such as gas should be handled with care. It is important, therefore, that we start as we mean to go on—and that can only be in the direction that will ensure that we not only proceed with caution but that everyone within these borders also benefits from the windfall. There is still plenty of work to be done, though. We will have to improve the infrastructure, upgrade the skills of the workforce so they benefit from employment in the sector and develop strategies to increase the capacity of other sectors, such as agriculture, to benefit from the gas sector. Moreover, it is vital that the people and their representatives are encouraged to take part in frank discussions on the initiatives to prepare the country for major investments in the gas sector. The input of communities in areas where gas reserves are found is also essential to avoid a backlash. Add this page to your favorite Social Bookmarking websites           |
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