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TAZARA SEEKS TO GENERATE OVER $45MN FOR OPERATIONS

THE Tanzania-Zambia Railway Authority (Tazara) has projected to generate US$45.71 million from its operational and non-operational income sources to cover the Authority’s operations for the next two years.

The total projected revenue from both freight and passenger services are US$36.03 million, whilst US$9.67 million is expected from other non-traffic revenues, including revenue from open access operations.

To meet the target, the transporter should transport at least 450,000 metric tons of freight traffic and 3,400,000 passengers during the 2021/22 financial year.

The targets were approved by the Tazara’s board of directors during the 116th Board Meeting held recently.

The meeting comprised the Permanent Secretaries responsible for Transport in Zambia and the United Republic of Tanzania, together with four other Board Members from both countries.

“The total operating expenditure projected in this budget period shall amount to US$45.71 million,” the board has approved.

Tazara must transport at least 600,000 tonnes of freight traffic yearly to start making a profit.

For years, the transporter has been unable to pay salaries as it has not been making profits despite the fact that there have been some improvements

A performance review for the first half of the 2020/21 financial year shows that the transporter increased the freight traffic by 19 percent compared to the previous first half of the 2019/20 financial year.

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Written by Editor

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