Ethiopia Suspends Partial Privatization Of Ethiopian Airlines

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Nation Suspends Partial Privatization Of Ethiopian Airlines
Ethiopian Minister of Finance, Ahmed Shide said the government has revoked the process of partial privatization of Ethiopian Airlines.
According to Ethiopia State Media Fanabc,The minister underlined that the cancellation of the partial privatization of the airlines is attributed to to its growing global reputation and profitability.
Briefing journalist at the press conference, the finance minister added that Ethiopia has witnessed a slight reduction in inflation over the last there months.
Ethiopia has collected more than 80 Billion Birr during the last quarter of the budget year from various income sources, he stated.
He said the country has secured 474 Million USD in grant and loan. The minister said out of the total foreign aid 131 Million USD has been gained from Japan and Germany in support of the fight against the coronavirus pandemic.
Ethiopia will issue an additional license to a telecom company interested to work with the government, the minister said, adding the issuance will increase number of invited telecom companies in to three.
Citing Ethiopia as a landlocked nation, the minister stated that the logistic service will be transferred to private companies based on the privatization process in order to facilitate speedy service delivery in the area.
Government is working to attract foreign companies interested to engage in sugar production industry in Ethiopia as part of the privatization process, the minister added.
He also disclosed a plan to get more than 1 Billion Birr from sale of residence houses built as for residence homes of higher officials in tender process. Security issues related to presence of real estates in the area is cited as a reason for the transfer of state owned homes to  the private sector.
Regarding the Tigray Regional State, the minister said that the Ministry of Finance will not appropriate budget for the region, explaining reason that the cabinet members of regional government have grabbed power through unconstitutional election process.
Service rendering institutions at Woreda and City Administration levels in Tigray Region will receive budget from the federal government in a systematic manner.
Activities are underway in collaboration with Ministry of Agriculture to combat the desert locust swarms descended in various part of the country with 60 Million USD budget secured from the World Bank, Ahmed said
SOURCE: FANABC

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