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Ethiopia to sell confiscated construction iron rod

construction iron rod  _ Ethiopia
Photo credit : EBC


A few weeks ago, Ethiopia seized over 1000 trucks of illegally stored construction iron rod, one of the items whose prices are artificially manipulated. 

The government has now decided that construction iron rod to be made available in the market and the revenue from it to go to public coffers.

A report from state media, which cited the Ministry of Commerce and Industry, said the item was stored in thirteen different locations. Some of it was smuggled and the rest was illegally hoarded with the aim of price gouging.

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