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Total assets currently unknown and abused

The federal government is getting ready to identify and register state property following the formation of an administration directorate under the Ministry of Finance and Economic Development (MoFED). 
Such a registration process is quite new for the country. Previously, there has never been a clear and organized record of public property holdings.
To identify and make public the country’s asset, the new directorate called Public Property Administration Directorate, was set up under MoFED in September 2012.
According to Aweke Abera, Director of the new directorate, his office has recently sent out a circular to federal offices and universities to list their property and duly inform the directorate. The government was concentrating on procurement before, but now, we are also focusing on identifying public property and its monetary value,” he said. “The new registration will allow the government to monitor properties and will be assigning numbers to its assets and identifying the proper value,” the director explained.
Previously, state properties were handled under the Public Procurement & Property Administration Agency (PPPAA) that was formed four years ago when priority was given to public procurement.
Aweke explained to Capital that public property management is a serious problem in government offices. “Lack of efficient administration of public property has been observed in government universities based on the audit conducted since the formation of the new directorate,” Aweke said.
Currently, the directorate is assessing public properties and has identified the properties that have to be settled or transferred to relevant government offices.
According to the audit, public property is greatly abused and is utilized in a wasteful manner. 64 percent of public budget goes to procurement, which means most of the budget is to buy public property and assets, but there is, at best, rudimentary and vague information about the total asset of the country.
“Due to lack of proper distribution and insufficient storage facilities, chemicals and other technological equipment are squandered and misused in government offices. These kinds of issues have become a serious problem and can no longer be tolerated,” he explained.