Pyithu Hluttaw 23 March, 2015: Oil price falls impacts on revenue from natural gas export

Description: 

"Nay Pyi Taw, 23 March — Dramatic fall of oil price in global market has affected export of Myanmar natural gas, said Deputy Minister for Energy U Myint Zaw to Pyithu Hluttaw on Monday. Regarding the query of U Thein Lwin, an MP of Chauk constituency, the deputy minister said although revenue from the sales of natural gas has declined, the ministry will manage to meet the income from this sector as in previous years. U Myint Zaw also promised the ministry will operate more joint-venture businesses with foreign companies to avoid monopolies of international firms in the domestic market, while the respective agencies are examining fuel qualities and market price. While transportation charges have also declined due to the falling fuel price, the Ministry of Energy will cooperate with other ministries and agencies for the fall of commodity prices. Regarding query of Daw Nan Sae Awa, an MP of Hpa-an constituency, Kayin State, on education funds for basic education schools, Deputy Minister for Education U Thant Shin replied that under the free education system of 2014- 2015 fiscal year for primary schools, the ministry allocated funds to all basic education schools based on the number of schoolchildren. The deputy minister said that in last fiscal year schools with 100 primary level children were given K800,000 (US$800), those with 200 children K1000,000 ($1,000), with 300 children K1.2 million ($1,200), with 400 children K1.4 million ($1,400), with more than 400 children K1.6 million, and K 400,000 for each affiliated primary school. U Thant Shin also clarified on the query of U Than Myint, an MP of Wundwin constituency that the ministry is cooperating with the Ministry of Health for health programmes at schools the whole year. U Aung Thein Linn, an MP of South Okkalapa constituency, urged the government to address trade deficit through prioritizing export sector of the country. His suggestion was recorded by the Lower House, and Union Minister for Commerce U Win Myint said the ministry has relaxed some restrictions on trade sector, remarking that both total expenditure of the country and amount of foreign direct investment have increased. He also said one of the reasons for trade deficit is due to more import items for investment sector, suggesting that enactment of laws for value-added products, and establishments of export/import bank and trade promotion board will help develop a business model that emphasizes on export sector."

Source/publisher: 

Pyithu Hluttaw via "The Global New Light of Myanmar"

Date of Publication: 

2015-03-24

Date of entry: 

2015-04-06

Grouping: 

  • Individual Documents

Category: 

Language: 

English

Local URL: 

Format: 

pdf

Size: 

71.32 KB