Gov’t effort to lessen the impact of inflation on society: Ministry

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BY BETHLEHEM BED

ADDIS ABABA- The government is putting into practice various measures to lessen the impacts of inflation on societies that arise following the occurrence of the Coronavirus pandemic, said Ministry of Trade and Industry.

According to Wondimu Felate, Ministry’s Communication Director, the government has removed the excise tax imposed on certain items that are believed to be highly consumed by the society.

To this end, the tax levied on edible oil, wheat flour, rice, sugar and packed children foods has completely been removed.

With the aim of creating a balance in the business, the government has also allowed business people to import items that were imported only by the government. Thus, around 24 importers that have been selected previously are allowed to import liquid edible oils that are enriched with Vitamin A and D.

However, so as to control importers who might aspire to take advantage of the tax relief and avoid malfunctions, the government will  do firm assessment, as to him.

He further stated that removing the tax imposition could play a double role as it benefits both traders and consumers.

While it encourages sellers to import more of these items, it would also help consumers get the items in fair price on the market, he said.

Including the oil that are domestically produced, around 42 million liter of edible oils are being imported currently, it was learnt.

The Ethiopian Herald August 26/2020