The Ethiopian House of People’s Representatives approved the budget for the federal government just began fiscal year yesterday.
The bill was endorsed by the parliament with one abstention after the house studied the report and recommendation presented by the Standing Committee for Budgetary and Financial Affairs.
The house also approved the Chat Excise Tax proclamation which is designed to ensure equity in the collection of tax due on Chat trade.
The Parliament also approved the Export Trade Duty Incentive Schemes bill at the same time. The Ethiopian House of People’s Representatives approved a new law to regulate the advertisement sector.The new law puts into effect a strict content to commercial ratio for both print an electronic media stating that advertisements will not exceed more than 60% of the entire content of a single edition unless the publication is established with the sole aim of disseminating advertisement.
The law also limits engagement in the sector to Ethiopian nationals and foreign nations of Ethiopian descent.
In the broadcast media the new law prohibits the commercial sponsorship of news, current affair and Children’s programs as well as all aired deliberations of the Parliament. Sports, Meteorology and Business News can be commercially sponsored if they are aired separately from other news according to the regulations.
Advertisement is also limited to 20% of daily programming or of a particular transmission period, while the sponsor cannot in any way influence the content and timetable of the program as per the new law.
Source: Ethiopian News Agency
