60 Government Enterprises to be Shut Down

60 Government Enterprises to be Shut Down 60 Government Enterprises to be Shut Down

Akaki Fabric & Yarn, Debrebirhan Blanket and Dire Dawa Textile factories are among the list of 60 government enterprises, which said to have on the verge of shut down resulted due to bankruptcy and unpaid banks and organizations loans.

Seventy five percent of their capital was disbursed in mismanagement, said the Public Enterprises Trustee Board.

These factories can’t even be privatized because of their debt including the uncovered costs of their staffs. “Therefore, the only way out is selling the belongings of these companies and shut them down,” the Board said. 

 

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