Revealed: How IPTL
is ripping off Tanzanians:
Ex-TANESCO boss:
’’We were shut out
of approval process...’’
THISDAY REPORTER
Dar es Salaam
THE privately-owned Independent Power Tanzania Limited (IPTL) has been ripping off the government of well over 3bn/- a month by over billing payments for capacity charges, THISDAY can reveal today.
Apart from charging bloated electricity tariffs, IPTL is paid a staggering 3.67bn/- each month in capacity charges alone based on false premises.
A 2001 ruling by the London-based International Centre for the Settlement of Investment Disputes (ICSID) declared that the monthly capacity charges should be calculated on the basis of IPTL’s equity (shareholders’ capital in the project) and other factors.
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