Two Zanzibar state-owned corporations on life support
This 2010 article reports on the Zanzibar House of Representatives Public Accounts Committee’s recommendation to the government of Zanzibar to retrench workers of Zanzibar State Trading Corporation (ZSTC) and Zanzibar Shipping Corporation (ZSC). According to PAC chairperson ZSTC is unable to service its debt, loss making and unable to cope with the rampant smuggling of cloves. The PAC also reported that ZSC had accumulated a heavy debt burden and required a bailout. The committee suggested that retrenchment exercise would help the two public entities become more efficient.