YANGON Private partnership is needed to implement the Greater Yangon Urban Transport Plan because the government budget is not sufficient to cover the US$25 billion project, according to a team leader from the Japan International Cooperation Agency (JICA).
The transport plan has been carried out since 2012, covering three phases: short term (2012-2018), medium term (2019-2025), and long term (2026-2035).
“The government budget can only cover 60 to 80 per cent of the project cost,” said Takashi Shoyama, a JICA team leader. “That is why we need to search for partnerships. Private companies should participate in this project. The government can only allocate $15.3 billion for the estimated cost of $25 billion.”
The final report of the Greater Yangon Urban Transport Plan stated that the government can finance the required budget by leasing lands, collecting car-park fees, and taxes.
Traffic management schemes such as reduction of traffic jam at major intersections and downtown Yangon, upgrading parking space and a five–year traffic clearance program are included in the transport plan.
Source Eleven Myanmar