(Parliamentary News), December 22, 2022; The House of Peoples' Representatives of the FDRE examined and ratified the National Payment System and Public Private Partnership Proclamations.

Regarding the importance of the proclamations, the Chairperson of the Standing Committee on Planning, Budget and Finance, Honorable Desalegn Wedaje said; To maintain the security of the national payment system and establish a reliable and efficient system in the financial sector; it is necessary to improve the payment system in a way that takes changes and development into consideration.

Honorable Mr. Desalegn said, regarding the public-private partnership Proclamation, it will contribute to the economic development of our country by creating a favorable environment through joint projects between the government and private investors. He explained that it is important to develop the financial sector by creating a transfer of knowledge and skills to the private sector.

The House members, on the other hand pointed out that the national payment system will help the financial sector of our country to bring growth and prosperity, and by involving the private sector, it will stimulate the growth of the economy.

On the other hand, Honorable Dessalegn Chane (PhD) pointed out that the proposal for large national projects which sites through tenders and negotiations it would be better to prevent corruption and malpractice, which is a challenge for the government as a country, should be kept in the draft Proclamation only through tenders.

On his part, the Governor of the National Bank of Ethiopia, Honorable Yinagar Dessie (PhD); explained that the payment system will not completely replace banking, so foreign investors and citizens can participate in payment systems from Banks.

The Governor added that regarding the naming of the National Payment System Proclamation; Taking experience from many African countries, The name National is common and suitable..

The members of the Standing Committee on their part; stated that the government and the private sector working closely together has a significant role in the implementation of projects as the developed countries have used it to develop their own countries.

A Proclamation to amend the National Payment System; Proclamation No. 1282/2022 with 3 abstentions it ratified by a majority vote.

The House also examine the proposed Proclamation to improve public-private partnership; Proclamation No. 1283/2022 which ratified by a majority vote with one objection and one abstention.

Translated By Yared Eshetu