Pyidaungsu Hluttaw approved the government’s plan to borrow K3,090 billion from the Central Bank of Myanmar for the Union Government Deposit Account for 2016-2017 FY during its 11th day session yesterday.
Daw Khin Saw Oo, Vice Governor of the CBM, said that arrangements are being made to provide the budget support to the government by buying and selling government securities and treasury bonds through a competitive bidding system. Next, Deputy Minister for Planning and Finance U Maung Maung Win elaborated on the government’s borrowing from the CBM for its deposit account.
The deputy minister also explained the government’s report on national planning implementation for 2015-2016 FY and called on Pyidaungsu Hluttaw to put the report on record. Then, U Ko Ko Naing, vice chairman of Pyidaungsu Hluttaw Legal Affairs and Special Cases Assessment Commission, presented the commission’s findings on definition of the Rule of Law and prioritized laws.
Regarding loans from the Asian Development Bank and the French Development Agency, Deputy Minister for Agriculture, Livestock and Irrigation Dr Tun Win and Union Minister for Education Dr Myo Thein Gyi explained the projects set to be implemented in agriculture, education, health and sports sectors with the use of the loans and called for parliamentary approval. During the 11th day session, Pyidaungsu Hluttaw documented President U Htin Kyaw’s trip to the 11th ASEM Summit in Mongolia. —Myanmar News Agency