Alemneh Wassie News about Abiy Ahmed

Work is underway to stabilize inflation in basic consumer goods in Oromia and SNNPR.

The Oromia and Southern Nations, Nationalities and Peoples Regional Trade Bureaus said they are working with stakeholders to stabilize inflation in basic consumer goods.

Director of Trade Competition and Consumer Control at the Oromia Regional State Trade Bureau, Abdulaziz Kado, said a committee headed by the deputy governor is working to reduce inflation in the state.

To this end, work is underway to link agricultural products with consumer associations and unions, he said. He said the committee will work in coordination with relevant bodies to eliminate unnecessary business chains.

He said 4 million liters of oil produced by two local companies has been allocated to Oromia State to stabilize the price increase.

He said a product agreement has been signed with Biftu Adugna SC to hand over the product in a short period of time.

He said about 4 million birr has been transferred to the government through the control of illegal traders so far.

Isaias Shewaneh, Deputy Head of the Trade and Regulatory Sector of the Southern Nations, Nationalities and Peoples Region Trade Bureau, on his part said a survey conducted in the state has seen a rise in prices of all consumer goods.

They attribute the problem to a lack of production, unnecessary stockpiles, and illegal brokers.

He attributed the rise in oil prices to the government’s slowdown in production and the recent rapid spread of domestic fibula oil.

He said an agreement has been reached with a male company licensed to distribute the oil to speed up the distribution.

Similarly, a three-team team of experts has been deployed in various parts of the state to stabilize inflation, he said.

He said areas with limited stockpile and shortage of produce have been identified and further distribution of basic commodities and agricultural products in cooperatives will be carried out in areas where there is a shortage.

The bureau officials said that inflation cannot be controlled by the government alone.