Auditor General Identifies 7.4b Br in Overdue Accounts Recievable


Auditor General Identifies 7.4b Br in Overdue Accounts Recievable

The Federal Auditor General, which has audited 117 federal offices and 35 branch offices, has identified 7.4 billion Br worth of overdue accounts receivable from the 2019/20 fiscal year. Some 90 offices were found to be guilty of the mishap with just four government institutions responsible for over half of the amount. The National Disaster Risk Management Commission has 1.9 billion Br in overdue accounts receivable, 1.5 billion Br from the Ministry of Health, the Ministry of Innovation & Technology has 614 million, and the Ministry of Science & Higher Education is sitting on 402 million Br. In addition, three offices were found to have uncollected advance payments from contractors amounting to 106.7 million Br. The auditor's report added that federal offices have 2.4 billion Br in unsettled collectable amounts that have remained outstanding for between one and five years; and 1.02 billion Br from five to ten years. The report states that the accumulation of these uncollected incomes would further tighten the chances of finalising collection. It advises the federal offices to collect receivables and settle them according to the law.


Radar

Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


Radar

AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Radar

Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...


Back
WhatsApp
Telegram
Email