Addis Ababa, June 6, 2018 (FBC) –A study is underway to import more steel products to ease supply shortage and price increase, said the Ministry of Trade (MoT) of Ethiopia.
Steel manufacturing companies said the shortage during the past 8 months led to price increase and unnecessary spending as well as caused delay in projects and also affected the economy.
Melaku Alebel, Minister of Trade said his ministry is conducting a study to identify the gap between supply and demand.
Data shows Ethiopia spent over 4.6 billion birr to import 448.7 metric tonnes of reinforcement bar in 2016 and 4.5 billion birr to import 309 metric tonnes rebar in 2017.
Once the study is completed, the government will boost the amount of steel it imports by allocating additional budget, thus helping the country to stabilize the market, he said.
In addition to improving the amount of distribution, the study would also help to fix prices in consultation with producers and importers, Melaku noted.
Steel manufacturing companies said the shortage during the past 8 months led to price increase and unnecessary spending as well as caused delay in projects and also affected the economy.
Melaku Alebel, Minister of Trade said his ministry is conducting a study to identify the gap between supply and demand.
Data shows Ethiopia spent over 4.6 billion birr to import 448.7 metric tonnes of reinforcement bar in 2016 and 4.5 billion birr to import 309 metric tonnes rebar in 2017.
Once the study is completed, the government will boost the amount of steel it imports by allocating additional budget, thus helping the country to stabilize the market, he said.
In addition to improving the amount of distribution, the study would also help to fix prices in consultation with producers and importers, Melaku noted.
Addis Ababa, June 6, 2018 (FBC) –A study is underway to import more steel products to ease supply shortage and price increase, said the Ministry of Trade (MoT) of Ethiopia.
Steel manufacturing companies said the shortage during the past 8 months led to price increase and unnecessary spending as well as caused delay in projects and also affected the economy.
Melaku Alebel, Minister of Trade said his ministry is conducting a study to identify the gap between supply and demand.
Data shows Ethiopia spent over 4.6 billion birr to import 448.7 metric tonnes of reinforcement bar in 2016 and 4.5 billion birr to import 309 metric tonnes rebar in 2017.
Once the study is completed, the government will boost the amount of steel it imports by allocating additional budget, thus helping the country to stabilize the market, he said.
In addition to improving the amount of distribution, the study would also help to fix prices in consultation with producers and importers, Melaku noted.
0 Comments
0 Shares
English