ADDIS ABEBA – The Ethiopian Road Fund Office said it has collected more than 2.89 billion Br in revenues in the 2019/20 fiscal year.
The amount covers 91 percent of the Office’s target for the budget year that ended on July 7.
The revenue was collected from the road fund, tariffs on lubricants, oil and petroleum, vehicle license renewal fees, and from the procurement of treasury bills.
Out of the total revenue, the Office collected 2.73 billion Br from tariffs of fuel.
The total revenue is almost similar to that of the preceding fiscal year, during which the office bagged 2.9bln birr.
The office also maintained over 14, 532Km of roads, by allocating close to 1.4 billion Br to regional states and Ethiopian Roads Authority.
The Fund, which was established in 1997 by a private-public partnership, is intended to serve as a financial platform for road maintenance and road safety measures.