Pyidaungsu Hluttaw puts new financial year debate on record

October 31, 2017

Mahn Win Khaing Than, the Speaker of Pyidaungsu Hluttaw, announced a bill that would change Myanmar’s financial year calendar, a move that would facilitate development, officials said, at the 4th day meeting of 2nd Pyidaungsu Hluttaw 6th regular session held in Nay Pyi Taw yesterday.

Concerning “the Bill on Division and Appropriation of Additional Budget of the Union for FY 2017-2018,” report on the legally made conclusion and report on the financially made conclusion, Dr Myat Nyana Soe, secretary of Joint Bill Committee and U Aung Min, vice-chairman (2) of public accounts Joint committee read out respectively.

Afterward, the Speaker of Pyidaungsu Hluttaw announced that any interested parliamentarians who would like to discuss concerning the policy and principles of the bill, credits and debits, can enroll their names.

And, U Maung Maung Win, Deputy Minister for Planning and Finance clarified, “The major cause of changing Myanmar’s financial year is that now is the time when the country needs to vigorously build infrastructure in the country. It is needed to carry out socio-economic development of the people, hence the need to acquire open season closely related in performing the tasks of purchasing and building of the Union, Region and State Governments. In changing financial years, conditions likely to occur at the very early stage will be able to be solved in many ways. But in the long run, it will result in sustainable good effects. As regards to the change of the financial year, process to be performed will be carried out between the Union Government and Hluttaw. There will be occurrence of potential expenses to some extent, at the early stage only whenever changes and reforms are made. Later, expenses will never come when it goes normal.”

The Deputy Minister added, “As lending agricultural loans is destined for farmers to get loans on time, there is no plan to change the lending period though the financial year will be changed and it will be done as usual.

The Union Government will re-designate the financial year from 1st October to 30th September with a view to carrying out more effectively the performances of the government which will support the socio-economic development of the people and for the effective implementation of useful budget earning and appropriation. The President of the State sent the message to put on record the matter of changing financial year. So, the ministry submitted the matter to be put on record to Pyidaungsu Hluttaw.”

Following that, Speaker of Pyidaungsu Hluttaw announced that the change of financial year will be introduced with effect from FY 2018-2019 and discussions of parliamentarians and clarifications of respective Union-level organizations’ members were put on record.

With regard to signing in BIMSTEC Convention on legal aid and legal relation in civil family and criminal cases, as for Myanmar, sent from the President of the State, Maj Gen Aung Soe, Deputy Minister for Home Affairs said, “Myanmar had already enacted rules and regulations on helping aid between countries in criminal cases in 2014. And, Myanmar had signed in the agreement on helping aids between ASEAN countries in criminal cases and the President urged member countries at the 3rd BIMSTEC Convention hosted by Myanmar. So it is necessary for Myanmar to lead the signing. BIMSTEC’s cooperation is the part of great importance in the Asia-Pacific regional countries’ trade, eradication of drug problems, acrossthe-border crimes prevention. And, Myanmar has cooperated in accordance with duties and responsibilities included in BIMSTEC convention, and had promulgated our laws and rules. So, Myanmar is ready to sign the agreement, now it is put forward to the Pyidaungsu Hluttaw for its approval.”

Regarding the matter, Hluttaw approved it.

U Kyaw Myo, Deputy Minister for Transport and Communications clarified the matters for signing ASEAN MoU on Aircraft Accident and Incident Investigation between ASEAN authorities and PRC Civil Aviation Authority.

Concerning the matter, Speaker of the Pyidaungsu Hluttaw announced that interested parliamentarian can enroll their names to discuss the matter.

The 5th day meeting of 2nd Pyidaungsu Hluttaw 6th regular session will be held on 7 November, it was learnt.

By Aung Ye Thwin Aye Aye Thant

Ref; The Global New Light of Myanmar