Wednesday, February 8, 2023
- Advertisement -
- Advertisement -
BusinessAgency collects record revenue

Agency collects record revenue

House, vehicle sales top revenue sources

The federal Documents Authentication and Registration Agency (DARA) collected a record revenue of more than 323 million birr  in the just-ended fiscal year (2016/17), according to its performance report released Monday.

Alemeshet Meshesha, head of corporate communications, noted that services rendered during sale of houses and vehicles were the leading sources of revenue.

The report indicates that the sale of stamp duties amounted to 323 million birr, falling short of the target by some 27 million birr. The revenue was generated by rendering services to an average daily number of 2,712 customers, according to the agency.

It was also disclosed that 247 million birr was the amount of money that the agency had originally set to pour into government coffers; but managed only 228 million birr, a figure 30.9 million birr higher than the previous year’s.

According to the report, a total of 720, 211 cases were handled by the agency during the year (higher than the previous year’s by a margin of 81,497), achieving 96.35 percent of its plan. Similarly, the number of customers who received services reached 1.497 million (95.76 percent of target), 163,443 higher than the previous year’s.

Adoptions of new technology, capacity-building as well as a process of deep-renewal are credited for the better performance registered during the fiscal year, Alemeshet told The Reporter.

The agency is one of the major revenue-raising institutions among government organizations.

Meanwhile, the agency has, in relative terms, been praised for better organization and efficiency among organizations under the federal government.

Institutions such as Ethio-Telecom, Ethiopian Airlines, Commercial Bank of Ethiopia, National Lottery Administration, Ethiopian Shipping & Logistics Services Enterprise, BerhanennaSelam Printing Press, National Intelligence and Security Service (fees from immigration services like passport issuance) and Ethiopian Broadcasting Corporation (EBC) are among top revenue-generating public entities.

- Advertisement -

Subscribe

Popular

More like this
Related

New central bank’s governor reveals priorities to get economy back on feet

The newly appointed National Bank of Ethiopia (NBE) governor,...

Absence of investment banks compels central bank to repurpose retail banks

In preparation for Ethiopia's forthcoming capital market, the National...

Ministry estimates conflict casualties at 400,000

Targets zero conflict casualties A draft program published by the...

Khat exporters in trouble, $ 21 million export earnings lost

32 exporters accused of mishandling $21 million The licenses of...