State Economic Promotion Fund Management Committee holds 2/2023 meeting

THE State Economic Promotion Fund Management Committee held its second coordination meeting in Nay Pyi Taw yesterday.

During the meeting, Committee Chairman Deputy Prime Minister Union Minister for Planning and Finance U Win Shein said the committee allotted a total of K330 billion – K230 billion to the Ministry of Agriculture, Livestock and Irrigation, K10 billion each to Kayah, Chin and Rakhine states, K8 billion each to Kachin State, Kayin State, Taninthayi Region, Mon and Shan states and K5 billion each to one Self-Administered Division and five Self-Administered Zones from K400 billion fund.

Officials of the committee inspected the operations launched under the State Economic Promotion Fund in respective regions/states and Self-Administered Division/Zones last two months.

Currently, it is estimated allocation of K50 billion to establish a fund for oil mill development loan and K20 billion for the livestock breeding sector using the remaining K70 billion fund.

The government is providing from every sector to promote the State economy and the relevant officials should make efforts to increase the capital of funds and spend effectively.

Then, the committee members coordinated the discussion and the committee chairman concluded the meeting.

MNA/ KTZH