Satenaw: Ethiopian News|Breaking News: Your right to know!

Council of Ministers Orders Signing of Coal Mining Dev’t with 8 Companies, Refers Other Bills to HPR

4 mins read

Addis Ababa, December 29/2021/ENA/ The Council of Ministers has decided today that the Ministry of Mines and Petroleum signs agreements with eight companies to produce and develop coal mining in the country.

Efficient production and enrichment of coal mines in various parts of Ethiopia will be carried out by eight companies when the agreements are signed.

According to the project plan, the companies are expected to produce coal that can meet national demand within a year.

The agreements were presented to the council along with their contribution to the local communities and nationally, a press release of the council stated.

The council also discussed the draft Community Health Insurance Proclamation, which covers the cost of pre-existing low-cost health services, alleviates high costs, and ensures equitable access to health care for all.

As there was no clear legal framework for governing the system in the past, there is a need to unify the legal frameworks used at the federal and regional levels to ensure a clear division of labor between the federal and regional executive bodies in the community-based health insurance system.

After deliberation on the draft proclamation, the council referred it to the House People’s of Representatives (HPR) for approval.

On other hand, the council discussed the draft regulation issued by the Council of Ministers to determine the purpose and function of Ethiopian Investment Holdings.

It discussed the bill extensively and decided to implement it from the day it was published in the Negarit Gazeta.

Similarly, it discussed the Federal Government’s 2014 budget and draft budget adjustment proclamation

It is to be recalled that the Council of Ministers has approved today 561.7 billion Birr proposed budget for this Ethiopian fiscal year.

Recommended by the Ministry of Finance, the council, after extensive deliberations on the proposed agenda, decided to refer it to the House of People’s Representatives for approval.

The council also discussed the issue of oil price adjustment and the implementation of targeted subsidies.

Oil plays a key role in the country’s economic and social development and is closely linked to the living conditions of the people.

However, taking into account the current macroeconomic situation of the country and the living standards of the society, the domestic retail price of domestic oil is being reflected in the international market and is not being transferred to the consumer.

As a result, oil marketing reform is being planned at the national level to address significant issues; and a mechanism has been put in place to implement the recommendations made by conducting a cost adjustment study to gradually reduce and eliminate unpopular fuel subsidies.

After deliberating on the agenda, the council decided to implement the resolution six months after the approval period by the Council of Ministers.

Similarly, the council discussed about decision on oil prices and profit margins. The current oil price revised has been in place for the past 25 years.

After deliberating on the resolution, the council decided to implement the resolution, effective today, after it was approved by the Council of Ministers.

Source link