Tender to Be Called for Highway Upgrading

The Ministry of Construction will call for international firms to tender for upgrading works on a 40-mile section of the Yangon-Nay Pyi Taw-Mandalay Highway starting at Yangon, the ministry’s Permanent Secretary U Kyaw Lin said on April 10. The upgrading works, which will use an Asia Development Bank’s loan worth US$80 million, will involve expanding […]

K30b Request to Boost Yangon Power Approved

​​ A request of K30 billion from the special reserved fund, granted by Budget Law of the Union 2016, to be spent for supplying the electricity power shortage in Yangon Region during the summer season was approved by the Pyidaungsu Hluttaw on March 17 amidst complaints by some MPs about poor electricity conditions in their […]

K30b From Reserved Fund for Yangon’s Power Needs

​​ President U Htin Kyaw has asked the Pyidaungsu Hluttaw to approve the allotment of K30 billion from the reserve fund of the 2016 Union budget for the purchase of generators to meet the increasing electricity needs in Yangon Region. The proposal was made in a formal message distributed to the Hluttaw representatives on March […]

Pyidaungsu Hluttaw approves 5 million euro loan from Germany for locomotive factory

Pyidaungsu Hluttaw passed the motion on borrowing 5 million euros from German KfW Development Bank for a Diesel Locomotive Shed in Ywa Htaung for Myanma Railways. Following a debate, the issue was put to a vote and passed 506 to 6. “It is required to give training to employees of Ywa Htaung locomotive shed because […]

JICA loans worth Ks358bn approved

Loans from the Japan International Cooperation Agency, totalling 31.051billion yen (Ks358.39bn) were approved during the 6th Day Meeting of the 2nd Pyidaungsu Hluttaw, 3rd Regular Session to fund the economically vital Thanlyin Bridge project that will span the Bago River, the finance ministry said. “Thanlyin Bridge No. 3 is the main one linking to the […]

Ambitious target set for upcoming bond auctions

The government has set an ambitious target for its upcoming Treasury bond auctions next month, aiming to sell about K1.85 trillion (US$1.53 billion) in debt, to account for 60 percent of its domestic borrowing for this year’s budget, a senior official from the Central Bank told the Pyidaungsu Hluttaw last week. Speaking during a parliamentary session […]

Govt mulls rejection of US$300 million loan from China

Thanks but no thanks, the Myanmar government may be preparing to say to a major Chinese lender. As Foreign Minister Daw Aung San Suu Kyi discussed the future of the controversial Myitsone dam project and other aspects of Myanmar-Chinese relations in Beijing, questions were being raised as to whether the country needs to take on an additional […]

Vehicle inspection system blocked by absence of by-laws

DESPITE securing Japanese financial assistance to mechanicalise vehicle inspection protocol of the Road Transportation Administration Department, the Pyithu Hluttaw Transport, Communication and Construction Committee has announced the absence of motor vehicle by-laws is hindering the process. “The current method of vehicle inspection poses great danger as it is conducted in person by department staff. The […]

MPs call for effective tax collection reform

MEMBERS of parliament stressed the need for reforming taxes in order to foster the country’s current social and economic reforms while debating the Joint Public Accounts Committee’s report on the tax collection target for the second six months of this fiscal year during a session of the Pyidaungsu Hluttaw yesterday. Dr Thet Thet Khine of […]

Ministries to hold power over BOT condominium sales

Foreign investors will be able to buy condominium units in build-operate-transfer (BOT) projects on ministry-owned land if the ministry is willing to register the project, officials said yesterday. The Condominium Law passed last month opens the real estate market to foreign buyers for the first time, but makes no mention of BOT developments. This has […]