August 19, 2016

Flyover budget redistributed to development projects

INSTEAD of spending K32.2 billion (US$26,923,077) to build two overpasses in Yangon this fiscal year, the money will be allocated to rural development projects, announced the Yangon Region Minister for Planning and Finance yesterday.
The minister informed regional MPs of his plan while clarifying a regional planning bill for the 2016-2017 fiscal year at a parliamentary session yesterday.
“The budget for the construction of the two flyovers will be spent on development undertakings in places outside the municipal area,” said Planning and Finance Minister U Myint Thaung.
The budget of K32.2 billion, of which K15.75 billion was allocated for an overpass at the junction between Kaba Aye Pagoda Road and Parami Road and K16.45 billion was set to go toward another overpass at North Okkalapa Junction, will be allocated to 12 townships situated outside the Yangon City municipal area to ensure better transportation and healthcare services and develop infrastructure there, the regional minister said.
In Yangon, the Tamwe Junction flyover is being built at a cost of K22.5 billion. The former Yangon Region government built six overpasses at Hledan, Myaynigon, Bayintnaung, Shwegondine, Kokkaing and 8 Mile at a total cost of K104.291 billion ($87,199,832).
The former government planned to spend 75 per cent (K32.2 billion) of its total capital expenditures (K44.782 billion) on the construction of the two flyovers.
During a parliamentary discussion on the minister’s proposal to spend the money on rural development projects, some MPs suggested that funds be allocated to townships inside the municipal area, while Daw Sandar Min, chairperson of the Finance, Planning and Economic Committee, agreed to the minister’s proposal.


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