NBE Established Ascendancy to Dollar over Others for Priority Sectors

Pharmaceuticals, Inputs for agriculture, Inputs for manufacturing, Motor oil and lubricants, Agricultural inputs and machineries, Pharmaceutical products, Manufacturing industries, Equipment, Spare parts, and Import of nutritious food for babies established ascendency to Forex under the new National Bank of Ethiopia Directives No. FXD/77/2021 titled Transparency in Foreign Currency Allocation and Foreign Exchange Management.

The 1^st priority includes; (15%)

• Pharmaceuticals: Medicine, inputs for manufacturing of pharmaceuticals and laboratory reagents,
• Inputs for manufacturing of edible oil,
• Liquefied petroleum gas (LPG).

2^nd priority; (45%)

• Inputs for agriculture: Fertilizer, Seed, Pesticide and Chemicals.
• Inputs for manufacturing: Raw material and chemical.

3^rd priority (40%)

• Motor oil and lubricants.
• Agricultural inputs and machineries: Irrigation pumps, animal feeds, machineries and equipment, tractors, harvesting machinery and their spare parts and animal hybrids.  
• Pharmaceutical products: laboratory equipment, medical equipment and appliances.  
• Manufacturing industries requests for procurement of machineries, equipment, spare parts, and accessories.
• Import of nutritious food for babies.
• Spare part for construction machineries for own use construction companies whose total values not exceeding USD 50,000.
• Educational materials: exercise books, pen, pencil, and printing papers.
• Profit and dividend transfer; transfer of excess sales of foreign airlines and sales from share and liquidation of companies by FDI are also to be prioritized under this category, the new directive implies.

The total foreign currency allocated for imports listed in the three categories shall not be less than 50Pc of the total foreign currency allocated for all imports of goods and services at any time.

Get the directive via the link https://cutt.ly/PYRoJUW