Out of the total sum of Sh20 billion released by the Government for recompensing cotton cultivators, Sh598million has not been claimed by the beneficiaries and the sum is lying unclaimed with the Tanzania Cotton Board (TCB) for more than two years now, according to a report laid before the cotton stakeholders.
TCB stated that it has no option but to hold the money as the amount has not been claimed by anybody.
The amount of Sh20 billion was intended for recompensing those farmers across the country who were compelled to sell 250 million kg of cotton at discounted rates owing to global economic slump.
The Government directed the cotton buyers to reimburse farmers to the extent of Sh80 per kg of cotton sold to them, for which they were reimbursed later. The cotton dealers, however, aver that TCB has yet not cleared their claims to the tune of Sh1.3 billion.
TCB stated that it had forwarded these claims to the Government, which has yet not released any sum for the purpose. It said that the amount claimed by the dealers was in respect of rise in production, as the actual cotton production during 2009-10 season was 17 million kg more than the 250 million kg for which the Government compensated.
Fibre2fashion News Desk - India
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