2merkato

Finance Minister Ahmed Shide, speaking at a panel discussion on industrial development organized by Ethiopian Press Agency under the theme ‘About Ethiopia’, stated that the Government was interested to increase the role and contribution of local investors in the manufacturing sector.

According to the minister, the private sector has already become a major employer and the Government is facilitating the active participation of local investors in the manufacturing sector by creating a favorable business climate and making available land and other facilities.

The federal government is preparing to impose a 15 percent value-added tax (VAT) on fuel sales beginning in July, marking a shift in the country’s fuel pricing policy. This move aligns with the government’s plan to fully liberalize fuel prices based on international market rates and phase out longstanding subsidies.

Ethiopian government is to lift ban on importation of palm oil by private companies starting from August 6, 2015, Addis Fortune reported.

Ethiopia’s government has issued a public bid to privatize one of the public enterprises it owns and administers, Assela Malt Factory SC. The factory that was floated by the Ministry of Public Enterprises has been supplying 75 percent of the input to 7 local breweries.

The Ministry of Finance announced that a decision had been made to sell scrap metal and out of service vehicles to steel manufacturing industries without resorting to a bidding process.

The scrap metal and out of service vehicles will be collected from federal offices, public development organizations, and State owned universities and allocated to companies according to the manufacturing capacity of the factory of each company. The selling price will be set according to the market conditions and type of the items.

The Ministry stated that it had set up a forum for discussion to have a general agreement on the allocation process.

Source: Fana BC