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Ethiopia: Enterprise Says Ready to Play Role in Stabilizing Market, Urges Public Not to Panic
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The Daily Monitor (Addis Ababa)
13 March 2008
Posted to the web 13 March 2008
Biruk Girma
Addis Ababa
Merchandise Wholesale and Import Trade Enterprise (MEWIT) on Wednesday said it played a crucial role in stabilizing recent inflation that heavily affected consumers in the country.
Speaking to reporters on the enterprises past, present and future achievement at his office, Yimam Mohammed, General Manager of MEWIT said the Enterprise purchased commodities amounting 167 million Birr and sold a 215 million birr worth goods in the last seven moths alone, in the frame work of regulating the cconsumer market..
He said the distribution of the goods was based on the daily demand of the customer and the current situation of the market.
Edible oil and salt, whose prices shot dramatically prompting public unrest, were cases in point.
Regarding edible oil, he said, the enterprise has made a purchase from local and foreign producers and importers to distribute to the public with affordable prices.
"Thus, beginning from February 2008 the product is being distributed at a cost of 16.40 birr per litter in Addis Ababa." "We have now a million liters of oil in our stock and another one and half million was purchased and is on the way to our stock," he added.
As regards to edible salt which, surprisingly saw a 1000% price increase to its price last week before it was brought down to normal through government intervention, the manager said it was now being sold as low as 1.35 birr per kilo.
He said his enterprise was in a position to maintain the status and urged the Ethiopian public not to panic over salt.
MEWIT is a government development enterprise which buys different industry products from local and foreign producers and whole-sellers; and sales on affordable prices for the society using more than 80 branches nationwide.
Its main activities include but are not limited to import and distribution of items such as building materials, general goods, food stuff, paper and stationery items, textiles, tyre and canvas.
More than 250 kinds of consumer goods are distributed by the enterprise.
The enterprise also supplies products on either credit or consignment basis in addition to acting as a commercial representative to various foreign companies.
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MEWIT has a total of 82 branch offices through out Ethiopia.
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