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February 26, 2018

Pyithu Hluttaw (Lower House) Roundup

1Nay Pyi Taw, 25 Aug — Myanmar’s financial rules do not allow state-run economic organisations to deposit money in private banks, said the Deputy Governor of the Central Bank of Myanmar U Set Aung on Tuesday.
The deputy governor was responding to a question raised by U Ohn Ngwe, MP for Myaung. He said that the government’s economic organisations may only open bank accounts at Myanma Economic Banks and added that state-owned banks are permitted to  take part in the treasury bill auction and deposit auction as a means of raising revenue to cover expenses. He noted that the Central Bank of Myanmar considers Myanma Economic Bank as a non-competitive bidder in deposit auctions, which is in line with the country’s monetary policies.
Meanwhile, U Than Oo of Myawady constituency asked about whether there are plans to reduce toll gate fees for vehicles owned outside Yangon Region. Deputy Minister at the President Office U Kyaw Kyaw Win responded by saying that Yangon City Development Committee currently gives exemptions of toll gate fees to buses, departmental vehicles, government vehicles and cargo trucks. He did not state whether reduced fees for general traffic from outside Yangon is on the cards.
The Hluttaw session also approved a bill which amended a 2012 Pyithu Hluttaw Law as well as the Vehicle bill.
Secretary of Pyithu Hluttaw Investment and Industrial Development Committee U Kyi Tha read out the industrial bill to members prior to voting. MNA


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