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News: Ministry suspends more than 80,000, revokes 520 licenses & sues 2,230 businesses; issues warning against price hiking

Translation by By Getahun Tsegaye @GetahunTsegay12

Addis Abeba, September 08/ 2021 – The Ministry of Trade and Industry said it has taken actions against more than 80,641 businesses that have made improper price hikes and participated in illegal activities.

The Ethiopian Press Agency (EPA) quoted Communications Adviser to the Minister of Trade and Industry of the Federal Democratic Republic of Ethiopia, Wondatir Mekonnen,  as saying, “Action is being taken against businesses involved in illegal activities to reverse the success of the law enforcement campaign.”

According to Wondatir: “Action is being taken against those who support the ‘terrorist group’ by concealing dollars and products,  and engaging in  improper and unreasonable price increases.”

He said 80,641 businesses have been suspended, 520 businesses’ licenses were revoked and 2,230 businesses were sued.

“The government will not tolerate those who are involved in money laundering without any economic reason or supply problem, especially during the ongoing law enforcement campaign,’’ Wondatir said.

He said a task force, led by the Ministry of Trade and Industry, comprising the Federal Police Commission, Information and Security, Revenue and Customs Authority and all stakeholders was established which has been taking legal actions against those who inflict artificial price hiking.

 Addis Standard attempts to contact the ministry of Trade and Industry for further explanations were unsuccessful. AS

The post News: Ministry suspends more than 80,000, revokes 520 licenses & sues 2,230 businesses; issues warning against price hiking appeared first on Addis Standard.

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