November
9, 2017
At the 2nd Pyidaung Hluttaw’s 6th session, 6th day meeting held
yesterday, the Deputy Minister for Transport and Communications U Kyaw Myo said
seafarers holding a Seafarers Identity Document (SID) could board and disembark
ships, obtain hospitalisation and clinical treatment in emergencies, transit to
join ships and return home without requiring an entry visa. An SID would be
beneficial for the country as it can be issued by several countries and does
not require any monetary input. The SID is a standardised, internationally
recognised document that makes it easy to enter into member countries with
ease, added the Deputy Minister.
The Deputy Minister was explaining about Myanmar rectifying and signing
the Seafarers’ Identity Documents Convention (Revised), 2003 (No. 185) sent to
the Hluttaw by the President.
Furthermore, the Deputy Minister explained about Myanmar rectifying and
signing the 2001 International Convention on Civil Liability for Bunker Oil
Pollution Damage, which was also sent to Hluttaw by the President.
The Pyidaungsu Hluttaw Speaker then announced that Hluttaw
representatives who want to discuss these matters should enroll their names.
Next, Union Ministers and deputy ministers explained the basic principles
and policy for Hluttaw representatives in a bill on Pyidaungsu additional
budget allocation for the 2017-2018 fiscal year. On the matter of permitting
the additional budget allocated in section 12 of the report, Deputy Minister
for Planning and Finance U Maung Maung Win said that when the ministry’s notice
for an additional budget allocation request was sent to departments and
organisations, the departments and organisations were asked to request for
additional budget allocation for commercial tax, income tax, fund for the
government, expenses required due to changes in foreign currency exchange,
salary actually required, travel expense, pension and interest payments only.
They were advised and managed to request additional budget allocation for
insufficient capital expenditures on matters included in the 2017-2018 fiscal
year national planning law, matters that can be completed within this fiscal
year, matters on which the President Office and Union Government offices has
permitted to request for additional budget allocation and permission will be
granted as much as possible after said the Deputy Minister.
Foreign aid acquisition and obtaining foreign loans were allocated to
increase yearly but were found not to meet the annual targeted amount. On this
description, it was found that there were delays due to different procedures of
the loan organisation and Myanmar.
Furthermore, set-standards to be followed were being drawn and in the
following fiscal years, speedy receipt and utilization of foreign aid and loan
will be monitored and managed. On the matter of reducing the deficit of state
own business enterprises in section 25 of the report, out of 44 factories under
Ministry of Industry and Ministry that were temporarily shut down due to being
economically unfeasible, two study groups were formed with free and independent
experts, government and Hluttaw representatives to conduct a study on 28
factories to see whether to continue operation with the permission of economic
affair committee.
While the Ministry of Planning and Finance is requesting the highest
additional budget allocation, only 21.72 per cent is for the ministry while
78.28 per cent is nationwide expenses such as expenditures on interest, aid,
tax share allocation to states and regions, expenses and debt expenses said the
Deputy Minister.
At the present a policy-based budget system is practiced to prepare the
budget. Internationally various systems of budgets such as policy-based,
performance-based and a system of allocating budget based on success were seen
to be used. In Myanmar budget reform is being undertaken in stages and will be
changed gradually based on achieving the aimed results said the deputy minister.
Deputy Minister for Electricity and Energy Dr. Tun Naing said in
2018-2019 fiscal year electricity supply and administration department will
conduct a 230 KV Mawlamyine-Ye-Dawei power line and sub-station projects with
ADB loan to distribute electricity to towns in Mon State and Taninthayi Region.
A 66 KV Thanbyuzayat-Ye power line project is allocated to be started in
2018-2019 fiscal year for earliest distribution of electricity to Ye town. A
group consisting of officials from ADB and the department were already
conducting preliminary project work and the loan agreement will be signed in
2018. Ministry of Electricity and Energy will effectively utilise the requested
2017-2018 fiscal year additional budget allocation explained the Deputy
Minister. Deputy Minister for Commerce U Aung Htoo said the additional budget
allocation requested was more than 10 per cent of the initial request because
the concrete laying of export import vehicle inspection ground in Muse (105)
mile trade zone was conducted with Yuan 10 million assistance of People’s
Republic of China and Ks1,950 million, the equivalent of 10 million Yuan was
included. This makes the additional budget allocation request to be more than
10 per cent of the initial request.
If this amount is omitted, the additional budget allocation request is
Ks386.7 million and is only 2.91 per cent of the ministry’s initial request.
Walling of Maungtaw and Lweje trade stations during this fiscal year for
security reasons is also included in the additional budget allocation request.
Net profit of Myanmar Citizens Bank increased to Ks 7.82 billion in
2016-2017. However a profit share of only Ks 3.12 billion was given because
expenses were incurred for hiring foreign experts to be competitive in
international banking with other banks, raising infrastructure and CORE Banking
works.
Furthermore, once it becomes a listed company, profit sharing is equally
provided and profits from the Ministry of Commerce’s share in the bank had
declined explained the Deputy Minister. Union Minister for Industry U Khin
Muang Cho, Union Minister for Health and Sports Dr. Myint Htwe, Deputy Minister
for Agriculture, Livestock and Irrigation U Hla Kyaw, Deputy Minister for
Transport and Communications U Kyaw Myo, Deputy Minister for Education U Win
Maw Tun and Deputy Minister for Construction U Kyaw Lin also explained about
the policy in joint bill committees assessment report, basic principles, policy
of Hluttaw representatives in the bill on Pyidaungsu additional budget
allocation for 2017-2018 fiscal year.
Myanmar News Agency
Ref; The Global New Light of Myanmar
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