Cash strapped Tanzania Zambia Railway Authority (TAZARA) says it has overcome its salary challenges for its workers.
Confirming the development in Lusaka today, TAZARA spokesperson Conrad Simuchile said his company has so far paid all its 2,800 TAZARA employees their April 2011 salaries.
Mr. Simuchile explained that salaries for May will be completed by the end of the month.
“TAZARA management’s longer term salary payment resolution strategy was approved by the Board of Directors at a meeting which was held in Lusaka on 19 May 2011, “he said.
He stated that the strategy entails the opening of a new bank account that provides an appropriate and sustainable monthly standby bridging finance coverage of full salary disbursement and payments to all employees at once.
Mr. Simuchile noted that management is determined to operationalise the salary payment regime with effect from the end of June 2011.
He said the arrangement has been in the making for some time now, but could not be implemented because it was deemed to require the approval of the Board of Directors, which has now been granted.
He added that management is mindful, that the success of this arrangement depends on properly focused performance and cooperation among the management, staff, and all employees.
[ ZANIS ]
Send Banda to the rescue. Banda commissions new salaries for Tazara employers.
Haaaaaa so they are going to use a bank overdraft to finance salaries? If the Board was transparent they would have appointed a tested MD to head this cashstrapped Institution…but the Sakulandas of this world failed to deliver when the right candidates were presented….
ask rb you will give you money outside budget
What of retires who are still languishing for the terminal benefits?when are they going to be paid
out?.
How is it that a rail company in a landlocked country but with a line to a port is cash strapped? Can we get serious and rejuvenate this firm. Hundreds of import cars, heavy machinery on trucks, passengers, chemical products, foods and the like trek the Dar es salaam to Kapiri road every day. This road is dangerous … too many curves and pot holes…and inefficient. Isn’t TAZARA the natural alternative? This company’s managers need to get serious with business. It is unacceptable that the company is broke.