HPR Approves Proclamation for Establishment of Capital Market

Addis Ababa June 2021 (ENA) The House of People’s Representatives (HPR) has approved unanimously the Proclamation for the Establishment of Capital Market today.

Revenues, Budget and Finance Affairs Standing Committee Chairperson, Yayesh Tesfahunegn told the parliament that capital market will serve the public as an alternative means for saving.  

She added that it will also have significant impact on supporting large government and private investments, besides reducing dependency on foreign aid.

Furthermore, the chairperson emphasized that it is critical for the implementation of the 10 years perspective plan.

Meanwhile, the House also approved a Proclamation for Federal Subsidy Budget and Distribution of Joint Revenues with a majority vote.

Law, Justice and Democracy Affairs Standing Committee Chairperson, Abu Birke said the proclamation will enable a fair distribution of joint revenues.

He added that it will also ensure transparency and fairness in the distribution system.

In related news, the HPR has unanimously approved the Proclamation for Licensing and Administration of Legal Services, which is expected to help citizens obtain proper legal advice.