Investors hesitate to invest in power sector

NAY PYI TAW — The deputy minister for electric power has denied claims in parliament that plans to increase the price of electricity was aimed at pleasing investors. The government will now charge Ks 20 per unit of electricity, according to deputy minister Aung Than Oo, which will cover production, construction and maintenance of hydropower […]

Private Banks need to prove they are clean as only 12 out of 22 in the top taxpayers list

Of the 22 private banks in Myanmar, only 12 have been listed as top taxpayers, according to the Ministry of Finance and Revenue. According to documents covering the 2011-2012 fiscal year, only 10 private banks are included on the official top 100 income taxpayers list. Only 12 private banks are included on the official top […]

Myanmar to reap 10% from Thanlwin hydropower project

Local conglomerate IGE Company plans to sign a joint venture with Hydrochina Corporation to build a 1200 megawatt hydropower project on the Thanlwin River, according to the Ministry of Electric Power. The Naungpha hydropower project will eventually distribute 90 percent of the electricity to China while Myanmar will only receive 10 percent, over which it […]