Annual general report of the controller and - Parliament of Tanzania

total potential of paid up share capital and other
Government investments in these PA&oBs was
Shs.10,691,261,115. Public Authorities which are
undergoing liquidation process are as follows:
S/N Name of The
PA&oBs
Audited
Accounts
Date
Total Gvt. investment
Shs
Gvt.
Ownership
%
1. Basuto Farm 30-Sep-02 644,449,423 100
2. BHESCO 30-Jun-01 104,285,208 100
3 Gidagamowd 30-Sep-98 239,723,885 100
4. Imara Wood Products 31-Dec-91 194,300,000 100
5. Kiltimbers Co Ltd 31-Dec-90 69,093,720 100
6. Mulbadaw Farm 30-Sep-98 902,699,681 100
7. Murjanda Farm 30-Sep-98 461,940,530 100
8. National Shipping Co.
Ltd
30-Jun-99 6,320,069,245 100
9. Setchet Company 30-Sep-00 1,010,576,396 100
10 Tanga -RTC 30-Jun-01 126,152,332 100
11 Tanzania Elimu 30-Jun-94 347,400,197 100
Supplies
12. Tanzania Motor
Services Company
(TMSC)
30-Sept-98 270,570,498 100
Total 10,691,261,115
12.1.4 Public Authorities and other Bodies under restructuring
process
Restructuring is the process of recapitalising the business
after being incapable of meeting short and long term
liabilities. This is a good method of rescuing an entity
from being liquidated. According to the Treasury
Registrar’s annual statement of Government investments,
four (4) Public Authorities and other Bodies which are
undergoing restructuring process had a paid up share
capital and other Government investments amounting to
Shs. 70,675,136,552. Public Authorities and other Bodies
which are undergoing restructuring process are shown
below:
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Office of the Controller and Auditor General PA&oBs 2007/08 219