Efforts are being made to reverse the trend of weakening the economy
Work is underway to weaken the economy and endanger the country by undermining various illegal activities to weaken the country’s economic sector. The economic fraud being perpetrated by illegal traders, producers and distributors and brokers for no apparent reason is a war we must all fight.
Commodity prices and the rising cost of living are on the rise. The main reasons for the high cost of living are CVD-19, the global financial crisis, the weakening of the purchasing power of silver and foreign exchange, the supply and demand imbalances, the current instability in the country, the concealment of production and the weak control of the task force at all levels.
A federal and woreda task force has been set up to monitor and control the cost of living through these and other illicit activities. The task force, led by senior officials at all levels, is concerned about the ongoing economic instability and will take irreversible legal and administrative action against the culprits. The task force inspected the body for improperly stored oil; Rice: He was arrested and charged with possession of cloth and metal. More than 1,000 trucks found in 13 locations are set to be sold legally and the money goes to the government to stabilize the market and expire.
Sugar, edible oil, wheat and petroleum products are the basic commodities that are regulated by price and distribution in accordance with the decision of the Council of Ministers. According to Central Statistics, 36.3 million quintals of wheat is produced in Ethiopia every year. Out of this, 61.8 percent is expected to be used for self-consumption, 19.48 percent for seed and other activities and the remaining 18.66 percent is for marketing. 7 million quintals of wheat from international donors and other sources, and 7.8 million quintals of wheat imported by the government every year to stabilize the market. A total of 51.1 million quintals of wheat is covered by these three supply sources, which is 18.9 million quintals short of the national demand of 70 million quintals.
Although the government did not supply wheat due to dollar shortages and international procurement delays in the 2013 Ethiopian budget year, 4 million wheat purchases have been made since September 2014.
The country’s annual demand for sugar is 7 million quintals, of which 4 million quintals is covered by domestic production. The remaining 3 million quintals will be covered by imports. Currently, 2 million quintals of sugar has been purchased and is being imported.
The monthly demand for edible oil is 74 million 62,547 liters, of which 2,341,817 liters are domestic production, 5 million 361,131 liters are imported by free traders and 40 million liters are duty-free. Currently, 36.8 million liters of cooking oil is imported and 17 million 110 thousand liters of domestic production is ready for the market.
To increase the cost of living on a temporary and sustainable basis, increase the capacity of local food producers, increase production, tighten controls at checkpoints, ensure that cooperatives deliver goods fairly to the public, actively participate in controlling and exposing illegal activities, and engage in regional trade. In collaboration with the bureaucracy and other stakeholders, strong action will be taken to monitor and control any illegal activities due to price increases.
From giving written warnings in the past; From canceling a business license: In addition to packaging a business, the Federal Task Force, established by the Ministry of Trade and Industry, has openly and covertly engaged in this illegal trade. The task force is determined to take irreversible action against unscrupulous leaders at all levels, and will no longer tolerate those who deliberately create economic mismanagement to destroy the country and destabilize the people and the government.
Source: Ministry of trade and industry