Union Urges Meeting with Premier Over Living Cost

May 4 , 2024


Rising living costs that reduce the purchasing power of stagnant workers' wages prompted leaders of the Confederation of Ethiopian Trade Unions (CETU) to urge a meeting with Prime Minister Abiy Ahmed (PhD). Flanked by Minster of Justice Gedion Timotheos, Abiy met with senior members of the Union last year to discuss issues related to freedom of associations, collective bargaining and the imminent challenge of inflation to the workforce. However, Kasahun Follo, head of the Union, said reduced employment taxes, the establishment of minimum wages, and improved working conditions need further action. He made the call last week during an event marking the annual May Day celebrations at the Oromo Cultural Center. Despite the adoption of tighter monetary policy orientations in the past year, inflation rates have not descended below 28pc, stretching thin the purchasing power. With nearly one million members, the Union has nine affiliated industrial associations under its fleet. Minister of Labor & Skills Muferihat Kamil, who was in attendance, indicated that a series of studies have been commissioned to identify and resolve the most pressing problems for workers.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email