THE sugar manufacturing company, TPC Limited, plans to construct a distillery plant that will increase the company’s incomes, create new jobs and increase tax payment to the government.
TPC Chief Executive Officer (CEO) Marius Jacobs told Minister of State in the Prime Minister’s Office (Investment) Angellah Kairuki that produced molasses was useful and would be used in the distillery.
“During sugar production, molasses is produced as a by-product as a result of crushed sugarcane. This product is also useful and increases the company’s incomes. Hence, TPC management’s decision to introduce the distillery plant,” he said.
Mr Jacobs was briefing the minister at TPC in Arusha Chini, Moshi District, at the weekend. He said the move was part of the company’s future plans. It produces more than 40,000 tonnes of molasses annually.
“This project will not only increase the company’s revenue, but also create new jobs and increase tax payment to the government,” he added.
TPC has already paid to the government 65.7bn/- between 2000 and 2019, with an initial 1.6bn/- in 2020.
“We also paid 89bn/- as dividends to the government between 2004 and 2019 and 14.5bn/- in 2019 alone, an increase from 13.5bn/- and 12bn/- paid in 2017/18 and 2016/17 fiscal years respectively,” he revealed.
Ms Kairuki hailed TPC Limited for good performance, especially in paying tax and dividends to the government, a move that she said showed how important TPC Limited was to contribute to national economy.
“The tax you pay to the government is one of the highest in the country. You are a good example of the government’s privatisation policy. Privatisation was meant to improve the country’s economy and you a good example in tax payment,” she explained.
She urged the company to increase sugar production and meet the government’s expectations and address sugar deficit in the country by 2030.
Ms Kairuki also commended TPC Limited for its contribution to community through its corporate social responsibility (CSR) in Kilimanjaro Region and said she was hopeful that the firm would extend its CSR to other parts of the country.