YANGON – The Yangon City Development Council (YCDC) will be spending more than Ks 53 billion (nearly US$ 55.2 million) on roads and bridge projects this year.
The YCDC has already planned to use over Ks 7 billion (nearly US$ 7 million) on 31 road upgrading projects and over US$ 600,000 to build five new bridges.
This year, YCDC has begun constructing three overpasses at different intersections to help ease congestion. Yangon Regional Government Committee had planned to spend Ks 17 billion alone (nearly US$ 17.7 million) for the Maynigone overpass.
Moreover, the Yangon usually faces flooding in rainy season. That’s why nearly US$ 2.2 million will be spent on building better drains to allow the proper flow of water.
Last fiscal year, more than Ks35 billion (US$ 36.5 million) was spent on the construction of Yangon’s road and bridge projects.
Despite the large budget being spent on construction, the Yangon Regional Government has not yet consented to forming a budget auditing committee. MPs have proposed that the local government allow an independent auditing mechanism to make sure the money is spent correctly.
Source: Eleven Media