Inflation Expected to Rise as Myanmar’s Economy Grows

YANGON — While observers are positive about the economic outlook as Myanmar enters a new fiscal year, the Asian Development Bank (ADB) and the International Monetary Fund (IMF) both predict rising inflation, pushing the cost of living up for the country’s mostly poor population. The ADB on Tuesday released its annual Asian Development Outlook report, […]

Electricity Rate Hike Could Hurt Competitiveness, Raise Consumer Prices

YANGON — Last week, Parliament approved a government proposal to introduce a long-expected hike in electricity prices per April 1. Business sector representatives now warn that the measures will undercut the competiveness of Burmese industries and lead to a rise consumer prices. Under the new plan, for households using under 100 kilowatt hours, or units, […]

Industry Awaits Myanmar’s Offshore Exploration Block Awards

Industry players are watching with interest an impending tender award by Myanmar’s Ministry of Energy for 30 offshore oil and gas exploration blocks, which has attracted bidding by several major international oil companies (IOC) that were absent in previous tenders. The outcome of the tender will highlight the progress, or lack of one, as the […]

Parliament’s decision on electricity prices will be followed- Minister

Parliament’s decision on electricity prices will be followed, Khin Maung Soe, the Minster for Electric Power, said during a meeting with industrialists on November 9. On Friday, Myanmar’s parliament approved discussions on an urgent motion to reduce the electricity fees that the government has recently increased. Some MPs also argued against the hikes in electricity […]

Kawthaung Residents Claim Coal Plant Causes Health Problems

Residents of Kawthaung, a Tenessarim Division town located on Burma’s southernmost tip, are complaining that air pollution caused by a coal-fired plant constructed last year is affecting the health of about 100 people. Nway Nway, a local resident, said the coal plant was located in the town, between Shwepyitha and Ayeyeiknyein quarters, where its emissions […]