August 19, 2016

Pyidaungsu Hluttaw Roundup

Pyidaungsu Hluttaw MPs discuss loan from World Bank.—MNA
Pyidaungsu Hluttaw MPs discuss loan from World Bank.—MNA

Nay Pyi Taw, 25 Aug — Pyidaungsu Hluttaw representatives approved a US$400 million loan from the World Bank on Tuesday.
The loan will be split between the Ministry of Livestock, Fisheries and Rural Development and the Ministry of Electric Power.
U Maung Toe of Minhla constituency supported the loan and said that although parliament has already approved over US$ 1.4 billion in foreign loans, low interest rates on the loans make further ones viable. Daw Tin Nwe Oo MP disagreed. She said that any spending on unnecessary projects should be cut and stressed that taking another loan while the US dollar prices is rising against the kyat is unwise. The loan was approved by the majority of members during a vote that followed discussions.
Meanwhile, the newly appointed Union Minister for Defence Lt-Gen Sein Win and Union Minister for Border Affairs Lt-Gen Kyaw Swe gave an oath before the Hluttaw speaker.
Representatives also passed a bill amending the constitutional law as well as the Myanmar Red Cross Society Bill.—MNA


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