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October 18, 2019

Central Bank’s responsibility questioned at Pyithu Hluttaw

Deputy Governor of CBM Daw Khin Saw Oo.—MNA
Deputy Governor of CBM Daw Khin Saw Oo.—MNA

Nay Pyi Taw, 17 June — The Pyithu Hluttaw on Wednesday heard a query about the responsibility of the Central Bank of Myanmar to report to the Pyidaungsu Hluttaw on the country’s monetary
policies.
U Phyoe Min Thein of the Hlegu constituency asked the Pyithu Hluttaw whether the Central Bank provides information on the developments of monetary affairs to the Pyidaungsu Hluttaw.
In response, CBM’s Deputy Governor Daw Khin Saw Oo said the bank monitors financial stability and improves the stability and efficiency of payment systems.
CBM reported its functions to the parliament in November 2013 and in March 2014, with the deputy governor saying that the bank is preparing two reports on monetary policy and financial stability.
Daw Khin Htay Kywe of the Mawlamyine constituency asked about actions to be taken against illegal logging and exploitation of natural resources in the area of dam projects on Thanlwin river. She also asked about compensation to local people who have lost their land to the projects.
In response, Deputy Minister for Electric Power U Aung Than Oo said compensation will be made according to the economic values of crops and trees.
He added arrangements have been made to compensate for damages incurred by the dam projects on the river.—MNA

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