June 29, 2017

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Unclaimed lottery prizes go to funds that benefit the people; PF Minister

Deputy Minister for Planning and Finance U Maung Maung Win. Photo: MNA
Deputy Minister for Planning and Finance U Maung Maung Win. Photo: MNA

MONEY from unclaimed lottery prizes have gone to education, health and social sectors that benefit more than 51 million people through the State’s Fund, Deputy Minister for Planning and Finance U Maung Maung Win told the Amyotha Hluttaw yesterday.
The government received lottery prize money that went unclaimed for one year as State revenue, said the deputy minister, adding that works are underway to use the money for the development of the State lottery and tax reforms.
According to the deputy minister, arrangements are being made to award K500 million and K 100million special lottery prizes and introduce K500 e-lottery tickets.  The deputy minister also answered a question on seized cars and motorcycles during a Q&A session of the Amyotha Hluttaw, saying that the seized vehicles were being sold on an open tender system and unsold vehicles have been transferred to the ministry to be listed as state-owned vehicles.
He added that seized vehicles have also been distributed to the departments which are in need of vehicles in regions and states.
During a session of the Amyotha Hluttaw yesterday, Union Minister Dr Aung Thu also responded to a question about the Myanmar Agriculture and Rural Development Bank, saying that the annual reports of the Bank will be made public soon as Auditor-General’s Office had approved it.
According to the Union minister, the Bank received a net profit of K54.74billion and made a contribution of K41.054billion to the government over the last 10 years from 2006-2007 FY to 2014-2015 FY but lost K10.823billion for 2015-2016, added the Union minister. The amount of money that the bank lost last year is not cash loss, said the Union minister adding that farmers have not paid back yet their loans. According to the Union minister, the bank is still collecting the loans amounting to K193.25billion.—Myanmar News Agency/ Thein Ko Lwin

Union Minister Dr Aung Thu.  Photo: MNA
Union Minister Dr Aung Thu. Photo: MNA

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