Set to privatize six sugar factories
ADDIS ABABA – A total revenue of over 258 billion Birr was collected from 23 public enterprises during last fiscal year, out of the planned 311.7 billion Birr, disclosed Public Enterprises Holding and Administration Agency.
Briefing journalists yesterday, Agency General Director Beyene Gebremeskel said that the Agency following its restructuring has taken various measures during the past one year to increase its earnings from public enterprises. It also collected a net profit of 52.3 billion Birr during the stated period.
However, the director said that the foreign currency shortage, delay in projects and political instability are among the layers of challenges that faced the Agency in the same period.
“It has also put in place Corporate Management Code for the first time which helps to regulate the enterprises effectively”. The coordination among the different stakeholders and public is also improving following the introduction of the code, he added. Meanwhile, the agency also announced that it is set to private six sugar factories this year. Preparations are ongoing for a smooth privatization of factories.
The Ethiopian Herald October 4/2019
BY MESERET BEHAILU
