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May 31, 2020

2nd Amyotha Hluttaw 5th Regular Session Holds its 50th Day Meeting

Aung Ye Thwin, Aye Aye Thant (Myanmar News Agency)

  • U Bo Bo Nge (Amyotha)
  • U Hla Kyaw (Amyotha)

At the 50th day meeting of 2nd Amyotha Hluttaw 5th regular session held yesterday, U Bo Bo Nge, Deputy Governor Central Bank of Myanmar replied to the question raised by Daw Nan Ni Ni Aye of constituency 6, in Kayin State as to how Central Bank of Myanmar has been managing to use Myanmar Currency Notes for foreign currencies at the border towns—Muse, Tachilek, Myawady, Kawthoung, Tamu and etc.
At the meeting, the Deputy Governor said, “Central Bank of Myanmar had already opened 1345 authorized money exchange counters nationwide till 7th July, 2017, with a view to raise the value of Myanmar Currency and for potential Dollarization so as not to emerge in the country, due to broader use of US dollars at home.”
The Deputy Governor added, “With a view to developing export and import industries at the areas in Kayin and Shan states touching with Thailand, the Ministry of Commerce permitted export and import industries to use Myanmar Kyat Currency, US Dollars and Thailand Baht under notification 6/2000, with Myanmar Economic Bank allowing for export and import industries at the Bank (branches) of Myanmar-Thailand Border Area, to open bank accounts in Myanmar, US and Thailand Currency, for the convenience of bank payments for export and import enterprises. So as to reduce spending in Thailand Baht currency not only in the areas touching with Thailand Border but also in other areas of the country, industries have been allowed to spend Myanmar Currency Kyat only, by changing Baht into Myanmar Kyat at the authorized money exchange counters. Legal actions will be taken against spending Baht in the country. Preparations are being made to officially purchase, sell or exchange Rupee and Yuan at the authorized money changers. By laying down plans to take actions over upgrading the value of Myanmar Currency and paying only with Myanmar Currency, Myanmar Central Bank has arranged to inform the public in advance, for respective ministries to take legal actions against their related enterprises and for Region and State Cabinets to take actions and to co-operate.”
Regarding the motion raised by Dr Win Myint, of constituency 11 in Bago Region, secretary of agricultural, livestock and fishery development committee urging the government to open the Fishery University with a view to sustainable development of fishery in the country, conservation of fishery resources, abundance of fish for domestic consumption, increases of foreign income, acquisition of opportunities for job creations, alleviation of poverty and the development of human resources, parliamentarians discussed respectively.
U Maung Maung Ohn, of constituency 5 in Ayeyawady Region discussed, “The motion can be categorized into two groups. As it is a long term plan, it takes time and professionals. For research, innovations are needed. Being a university, it will take 4 or 5 years. Only when people have acquired good results of fish breeding, such a university should be opened.
The essential need for the development of fishery is legislation. It is necessary to accomplish for fish breeders to acquire the rights in accord with the existing rules and laws. And, it also needs to ease restrictions, which are hindrances to fishery industries, so that lands can be easily utilized according to land law and law on vacant, fallow and virgin lands. Prior to opening the fishery university, student should be sent to foreign universities as state scholarship students.”
At today’s meeting, concerning the substitution of committee members in committee on people’s complaints, it was submitted to Amyotha Hluttaw and approved by Hluttaw.

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