February 10, 2017

Breaking News

Change in policy buffets auto market

Typical downtown traffic seen here next to Sule Pagoda, Yangon. Photo: Aye Min Soe
Typical downtown traffic seen here next to Sule Pagoda, Yangon. Photo: Aye Min Soe

FOLLOWING the government’s announcement on new restrictions on the model/year of imported cars on 7 January, the prices of cars has decreased, according to sources.
The 18-December announcement of the Ministry of Rail Transport restricting the import of motor vehicles in regard to the year and allowing only left-hand drive cars to be imported.
The policy has drawn criticism from auto businessmen and the change in policy has slowed down the market. Others have welcomed the policy.
“All are watching the situation in the auto market,” a sale broker said.
The Road Transport Administration Department under the Ministry of Rail has relaxed the restrictions concerning the year of manufacture of motor vehicles being imported.
With high demand for automobiles in the country, systematic public transportation should be given priority to meet international standards, some experts for civil affairs said.—001 (The Mirror)

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