Among the ten public enterprises liable to the Public Enterprises Holding and Administration (PEHA), the first quarter performance of the 2024 budget year plan of the Liability and Asset Management Corporation and the Industrial Parks Development Corporation was reviewed on November 25, 2024.
The Liability and Asset Management Corporation is a corporation established to take over the debts of public enterprises, use the capital allocated to it from the IDF and the income it earns from other business activities, to pay off the debts. It also take over the assets and debts of partially or fully privatized and liquefied public enterprises and manage them.
The corporation has been working to achieve its mandate for which it was established.In the first quarter of the 2024 fiscal year; the Corporation recorded a total income of Birr 6.8 million and a profit of Birr 3.7 million. It also provided support to various sections of the community a Birr amounting to 400 thousand through its corporate social responsibility plan. It earned a total of Birr 3.92 million from assets received from the then Directorate General of Trusts, from building rent, and other income, and is working to collect unused and assemble assets so that they can be used. Attention is also being paid to updating the corporation’s accounts. The renovation project of the Corporation’s building was visited.

The other company appraised on the day was the Industrial Parks Development Corporation, which recorded encouraging performances in terms of export, import substitution, shed occupancy rate, attracting investors, developed land possession and utilization rate, and producers and input providers trade linkages during the quarter. Therefore, the shed occupancy rate was 86 percent during the quarter. From export, it was possible to earn 26 million USD, and import substitution products worth 53.3 million USD were produced. Trade linkages worth 38 million USD were established between manufacturers and input suppliers during the quarter. The corporation earned a total revenue of Birr 865 million during the quarter, and recorded a profit before tax of Birr 295 million. In terms of job creation, 12,683 jobs were created. Corporate social responsibility activities were one of the areas that performed well, providing support of Birr 33.3 million to various community groups, including constructing a school.
The Acting Director General of the PEHA, Ato Zinabu Yirgan, and the Deputy Director General of the PEHA, Ato Tegistu Amsalu, along with the two Corporation’s Board and management members, officials from the Ministry of Finance, and Executive officers and experts of PEHA who monitor the two corporations joined the performance review.