The Parliamentary Standing Committee on Public Capital Investment (PIC) has asked the National Mining Corporation (STAMICO) to reduce spending and make productive investments so that they can provide dividends to the government.
The opinion was given the other day by the Vice Chairman of the committee, Vuma Agustino during a one-day visit to the Mwanza Precious Metals Refinery (MPMR) project.
"This project is very good and it is owned by Stamico.
This project is supposed to bring productivity in the community and this project is a modern project and has a value of more than Sh 16 billion," said Agustino.
He praised the Ministry of Mines for doing well in managing Stamico to make the investment.
"The Stamico organization in 2017 was an organization that was making huge losses until it got to the point where the committee wanted to advise the government to abolish it completely," said Agustino.
He promised that their committee will continue to manage the government and its organizations so that they can make productive investments.
The Chairman of the Stamico Board, Major General Micheal Isamuhyo promised that their organization will work on the recommendations made by the parliamentary committee.
"Such visits by leaders help us in increasing the efficiency of this factory and it will be very beneficial," said Isamuhyo.
The Minister of Minerals, Dotto Biteko said the government has decided that all the minerals being transported should be cleaned first before being transported.