Tanzania Approves 100billion to Stablize Fuel Price

The Tanzanian government has approved a concession grant amounting to 100bn/- to question the skyrocketing price of fuel and offer relief to the nationals currently battling increasing inflation. <br />Energy Minister Mr Januari Makamba revealed the short-term plan in the National Assembly on Tuesday attributing it to fresh instruction by President Samia Suluhu Hassan. <br />Minister Makamba added that the grant will not affect ongoing government projects in the country while saying that the move is a short-term measure to reduce the price of oil before the new financial year. <br />Mr Makamba says the government is in the process of securing a loan from both the International Monetary Fund and the World Bank to curb the rise in oil prices during the next fiscal year.