Mar 26 , 2022
The Ethiopian Plastic & Rubber Manufacturers Association has requested access to foreign currency to import raw materials. The lobby group held a press conference late last week. Foreign currency has been a big challenge for plastic manufacturers, particularly after the National Bank of Ethiopia (NBE) decided to alter the foreign currency retention rules in January. A survey conducted by the Association on 100 manufacturers revealed that more than 85pc of them are producing at less than half of their capacity for lack of inputs. The lobby group is also petitioning on exemptions on import taxes for raw materials. Its leaders say they have passed along their concerns to the Ministry of Finance and the Customs Commission. Established in 2004, the Association has around 450 manufacturers under its wing.
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