UFISADI: The Making Of IPTL

Ujuha wako peleka kwingine si hapa. Mzalendo kamwe hawezi kuandika ujinga kama huu baada ya wizi mkubwa wa pesa za walipa kodi.

Escrow ni account ya mgogoro kati ya wanahisa, mgogoro umeisha, escrow inafungwa!, that was it!. Wengi wanadhani account ile ni ya serikali!, no!, na fedha zile pia sio za serikali ni za IPTL ambayo imelipwa malipo halali na Tanesco kwa mujibu wa Mkataba wao!.

Pasco said:

Uzalendo wa kweli, yaani patriotism unakaa ndani ya moyo wa mtu, nsa haupimwi kwa kukaa kimya, kuongea au kuandika, unapimwa kwa uchungu wa mapenzi ya dhati ya mtu kwa nchi yake!. Mimi na miongani mwa wale wazendo wachache kabisa wa nchi hii, ambaye niko tayari kulala njaa kuifia nchi yangu!. Ni lile kundi tulikwenda ulaya kujaribu maisha na kuacha kila kitu na kurudi nyumbani just for the love of mother nation!, na yote tunayoyafanya sasa ni mapenzi tuu ya nchi yetu!.

Uzalendo wangu mimi ndio ninaoujua na uko ndani ya moyo wangu, kama ndio unaupima kwa mabadiko yangu, endelea kujifariji ila uzalendo wa kweli na wa dhati hukaa moyoni, sio mdomini, sio machoni na wala sio kwenye mabandiko!

Pasco

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Hawa wezi lazima walipuliwe... Police waache kuwalipua mabomu Wamachinga! Wanatakiwa wa deal na hawa MAJAMBAZI...

Kwa ISSUE HII Rais wa tezi dume ni mhusika mkuu wa Escrow

Kibanga Ampiga Mkoloni said:

Dar es Salaam. The legal battle involving Independent Power Tanzania shareholders -- VIP Engineering and Marketing Company and Mechmar Corporation -- took a new turn earlier this month with the minority shareholder demanding $485 million (Sh776 billion) in damages from Standard Chartered Bank.

VIP Engineering and Marketing Company, which owns a 30 per cent stake in IPTL, has filed a civil suit in the Supreme Court of the State of New York, demanding a total of $485 million from SBC in damages it has suffered due to the bank's conversion of the firm's assets in IPTL.

Mechmar Corporation owns the remaining 70 per cent IPTL shares. Standard Chartered Bank Hong Kong is involved in the saga for being the project finance lender to IPTL. The Citizen has obtained copies that indicate that VIP officially filed a suit on 10 June, 2013 through New York-based attorneys Joel Miller and Christopher Provenzano.

The same was confirmed in Tanzania on 11 June, 2013 through a Notice, addressed to Standard Chartered Bank Tanzania, by an International Independent Consultant for VIP Engineering and Marketing, Mr James Rugemalira.

"VIP has commenced a civil suit in the Supreme Court of the State of New York against SBC seeking to recover damages of not less than $485 million which VIP has suffered and continues to suffer because of SCB's conversion of VIP's property rights in IPTL," says Mr Rugemalira in the letter that was also copied to the official receiver and provisional liquidator of IPTL and other relevant parties.

Also furnished with copies of the notice are the Attorney General of Tanzania, the Bank of Tanzania (BoT), Tanzania Electric Supply Company (Tanesco), Tanzania Revenues Authority (TRA), the Inspector General of Police (IGP), the Prevention and Combating of Corruption Bureau (PCCB), Adept Chambers (Advocates), K & M Advocates, Mkono & Company Advocates and a string of other law firms.

According to Mr Rugemalira, the notice seeks to request SCBTZ to read and understand the basis and grounds of VIP's complaints against SBC. "VIP trusts that SBCTZ and others reading this Notice in copy may justifiably espouse VIP in its efforts to recover compensation for damages and the Corporate Assets of VIP which were and continue to be illegally converted by SBC," the Notice reads.

The suit, Mr Rugemalira says, is without prejudice VIP's rights and interests in any other actions in which the firm is party, either existing, pending or future cases in the court of law in the United Republic of Tanzania or in any other jurisdiction.

This is just one of the many cases involving IPTL's shareholders and the project lender. There are also legal battles involving the two shareholders.

In January 2009, the High Court of Tanzania ruled that the power producer be placed under receivership after a protracted legal battle between the two shareholders.

Consequently, there is an ongoing court case as Civil Revision Number 1 of 2012 before the Court of Appeal of Tanzania involving VIP Engineering and Marketing Company Limited and Mechmar Corporation. Late last year, the Court of Appeal of Tanzania nullified proceedings of the High Court, including the 2011 order that sought the winding up of IPTL over allegations of fraud and mismanagement.

The Court of Appeal panel, comprising Chief Justice Chande Othman and Justices January Msoffe and Edward Rutakangwa, declared in their 17 December ruling that the High Court committed some fatal irregularities in the conduct of impugned proceeding.

The Appeals Court also nullified all proceedings in cases number 49 of 2002 and 254 of 2003.

The panel then ordered that another judge of the High Court should hear the matter expeditiously, including challenges, if any, the competence of an application lodged by SCBHK Limited, seeking for appointment of an administrator for IPTL.

Both VIP and Mechmar say SCBHK is not the right creditor of IPTL. This is because SCBHK did purchase the debt from Danaharta &[HASHTAG]#8211[/HASHTAG]; a body established in June 1998 by the Malaysian Government for the purpose of addressing the non-performing loans problem plaguing the banking system during the Asian financial crisis.

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Wajameni kama hii ndio the real situation ya Tanesco kudaiwa na SCB-HK, kiukweli deni hili halituhusu! . IPTL ilikopeshwa na Mechima ya Malaysia ambayo nayo ilikopeshwa na benki za Sime na Bumiputra za Malaysia ambazo zimeisha filisiwa na deni hilo likakabidhiwa kwa kampuni hodhi ya Danahatra ya Malaysia, ambapo hapo ndipo SCBHK iliponunua deni hilo kule nchini Malaysia, lakini mali za IPTL zilizoko Tanzania zikauzwa kwa PAP.

Wakati PAP akiinunua IPTL, alinunua assets tuu na sio liabilities za madeni kwa sababu madeni yote ya benki za Sima na Bumiputra zilizoikopesha Mechima yaliishakabidhiwa kwa kampuni hodhi ya Danaharta ambayo ndio ililiuza kwa SCBHK. Hivyo alichouziwa SCBHK ni deni hewa. Alichouziwa PAP ni mali za IPTL bila deni.

SCBHK aende akadai fedha zake kule Danaharta alikouziwa deni hewa. IPTL haihusiki, PAP haihusiki na Tanesco inahusika vipi? .
Pasco

Invisible said:

Nimepitia baadhi ya habari na kuona kuwa hii topic ni nyeti sana na inagusa mengi, kwa nini isijadiliwe:

DOWNLOAD THIS SECRET DOCUMENT

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issues:

IPTL, ANGLO LEASING YA TANZANIA ISIYOTAMKWA.

GAZETI Tando la Pambazuko limebandika ripoti inayotakiwa kusomwa na kila anayeitazama kwa jicho la mapendo ...

Who is this guy:

Mr. Patrick A. Rutabanzibwa, Permanent Secretary, Ministry of Energy and Minerals, Dar-es-Salaam, Tanzania

Mr. Rutabanzibwa is currently the Permanent Secretary in the Ministry of Energy of Tanzania, a post he has held for close to a decade. As a Permanent Secretary (a Presidential level appointment), he is effectively the top-most technocrat in Tanzania's energy sector. Mr. Rutabanzibwa has been instrumental in improving the performance of the energy sector in Tanzania. He was one of the senior government officials in Tanzania who was instrumental in halting a lopsided contract between the Government of Tanzania and IPTL, an independent power producer that could have bankrupted the country's power industry. Mr. Rutabanzibwa was the chairman of the technical team that reviewed and approved the management consulting firm that is managing TANESCO, the state-owned electricity utility. Mr. Rutabanzibwa was one of the founder members of AFREPREN/FWD, but withdrew from active AFREPREN/FWD participation due to pressing commitments arising from his senior position in Tanzania's energy sector.

BY the way: Case Study: Power Deal Tainted by Graft

IN 1995 the Tanzanian's state-owned electricity firm Tanesco signed a power purchasing agreement with Independent Power Tanzania Limited (IPTL), a joint venture between a Malaysian company and a local investor for the purchase of 100MW of power from diesel generators for 20 years. From the start the deal 'was hotly contested by donors and consultants on the grounds of cost, the choice of technology and the projected demand for power', says Brian Cooksey of Transparency International.

The government agreed to pay for the capacity whether or not it was actually needed. In the project's first year, 2002, IPTL was paid $40 million in capacity payments alone, and has functioned at less than 10% of capacity since then. Evidence of alleged corrupt payments to government officials to initiate the deal led to a public outcry and fiery parliamentary debates.

The IPTL deal is considered a bad PPP not just because of the alleged corruption and the high cost of electricity, but also because it was approved without a proper feasibility study and without consulting necessary stakeholders. Tanesco was forced to pay too high a price for electricity that it didn't really need since its major problem was not insufficient generating capacity but rather a lack of gridlines. IPTL's electricity is said to cost 12 US cents per unit compared to the seven and nine US cents per unit supplied by Tanesco. This in addition to the $3 million a month in statutory costs that IPTL charges Tanesco.
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YOTE haya yapo kwenye mtandao, where are the responsible people? Are they part of it?

A gift for you (members only can download it)

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Mkuu Invisible, hongera sana!, hili jambo la IPTL ulianza nalo mezi April, mwaka 2006!, leo miaka 11 baadaye ndio linawiva na kuonyesha dalili ya kuzaa matunda!.

Hongereni wote mliofanya juhudi hizi.

Paskali

Hizo docs mbona hazifunguki.

Mpalakugenda said:

Hizo docs mbona hazifunguki.

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Zilishatolewa!

Patrick rutakabanzima ndo country chairman a wa hawa pan African energy eeh?

Hii kitu kumbe ilitokea mbali sana.