Yangon to Draw up Master Plan for Energy, in Push for Foreign Investment

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A master plan for electricity and energy for the Yangon Region is going to be drawn up with foreign and local investment invited for power distribution once the law for electricity has been completed, the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) has revealed.

Last year, the government lost some 450-billion kyat in power distribution.

In fact, the system to distribute power via electrical cables around the country needs to be upgraded, as it has been use for a hundred years. So, the biggest city faces challenges in creating a proper electricity distribution system.

In a recent meeting, officials discussed the crucial role of electricity and energy in symmetric development between rural and urban areas, plus socio-economic development.

A master plan for electricity and energy is needed because Yangon Region uses half of power distributed around the country.

Chief Minister of Yangon Region, Phyo Min Thein, said the government was distributing electricity for a net lost in costs. Foreign and domestic businesses wanted to invest in distribution of electricity. However, the problem was the price charged by the government did not cover marginal costs.

Phyo Min Thein said the union government managed electricity distribution around the country, while state and region governments only had the right to distribute 30 MGW, according to the constitution.

So, he said the law for electricity would be prepared with the union government and parliament. After that, distribution of electricity would be extended by inviting domestic and foreign investment.

A forum for stakeholders in the master plan for Yangon Region electricity distribution will be held at the Federation’s office on March 2 or 3.

Foreign and local experts would be used to help draw up the master plan. Only then, could it be systematic and pragmatic, and attract investors, they said.

 

Source: Eleven Myanmar

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