PRIME Minister Kassim Majaliwa has directed the Ministry of State in the President’s Office (Regional Administration and Local Government) to ensure that part of the revenue generated from agriculture, livestock and fisheries is set aside to improve the relevant sectors as per the guidelines.
The Premier issued the directives on Thursday after visiting pavilions of various institutions at the ongoing Nanenane Agricultural National Exhibition at John Mwakangale grounds in Mbeya Region.
“You must make sure that you observe the guidelines during the preparation of the government budget plan for the 2023/2024 financial year which requires Local Government Authorities (LGAs) to allocate revenue from agricultural produce (20 per cent), livestock (15 per cent ) and fishery (5 per cent) to improve agricultural sector, including developing strategic crops,” the PM directed the Ministry of State in the President’s Office (PO-RALG).
In order to improve crop production, fisheries and livestock keeping, including improving the quality of output, the Premier urged stakeholders in the sector to use financial institutions to access loans to help them to increase productivity and promote growth of their businesses.
“Financial institutions have opened a window for you, they want to hear from you, there is no development without taking loans provided you observe the conditions for accessing the funds. If you want to advance your business and you have no capital go and borrow but you should also repay the loans so that other people could also access them,” Majaliwa said.
Mr Majaliwa further said that the government has continued to negotiate with various financial institutions so that they can reduce the interest rate on the loans and increase opportunities for entrepreneurs in the country to get loans and develop their businesses.