November 21, 2017

2nd Pyidaungsu Hluttaw 6th regular session holds its 5th day meeting

Members of Parliament attend the 2nd Pyidaungsu Hluttaw meeting in Nay Pyi Taw.  Photo: MNA
Members of Parliament attend the 2nd Pyidaungsu Hluttaw meeting in Nay Pyi Taw.  Photo: MNA

At the 5th day meeting of the 2nd Pyidaungsu Hluttaw 6th regular session yesterday in Nay Pyi Taw, the budget, including the policy and principles of the bill on the Revised Budget Estimate of the Union, FY 2017-2018, was discussed by parliamentarians.
Concerning additional funds, U Khin Cho of Hlinebwe constituency said, “It must be allotted after scrutiny in accord with seven principles. According to the Budget Estimate of the Union, incomes were targeted at Ks16,605 billion and spending at Ks20,594 billion. Additional budget allotments amounting to Ks2,544 billion were found to have been demanded. As for the departments and organisations, they need to demand the nearest amount of the money to be really spent. Especially, lump sum amounts and investment money to be spent in jobs should be demanded after careful calculation. Money for spending is required to be demanded in accord with seven principles for demanding additional funds.
Here, I would like to suggest that additionally demanded amounts should not exceed the designated percentage of the Budget Estimate. Concerning the interest rate on foreign loans, if necessary preventions are carried out after sustainable assessment of nature and months in which rise and fall of foreign exchange rates happen, a big gap on surplus and deficit in demanding additional fund can be put under control.”
Afterward, Mahn Win Khaing Than, Speaker of the Pyidaungsu Hluttaw, received the approval of the Hluttaw concerning Myanmar’s signing of the ASEAN MoU on Cooperation Relating to the Aircraft Accident and Incident Investigation sent by the President of the State, and its approval was announced to the Hluttaw.

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