K1 bil­lion Aung Bar Lay jack­pot next year

The Myanmar Times - - News - SWAN YE HTUT swanye­htut@mm­times.com

THE new gov­ern­ment’s planned boost to the state lot­tery jack­pot will not go into ef­fect un­til next year, the deputy min­is­ter for plan­ning and fi­nance said.

The change of for­tunes, jump­ing the state’s big­gest prize from K150 mil­lion to K1 bil­lion, was an­nounced among the raft of changes in the min­istry’s 100-day plan.

But after an Amyotha Hlut­taw meet­ing yes­ter­day where deputy U Kyaw Myo con­firmed that the state-run Aung Bar Lay lot­tery will give away the K1 bil­lion prize, he told The Myan­mar Times in an in­ter­view that a date for the sweep­stakes has yet to be ce­mented.

“It will start in early 2017, we but still don’t know yet which month. We will an­nounce the time when it nears, but it will de­pend on the lot­tery ticket print­ing process,” he said.

He added that the In­ter­nal Rev­enue De­part­ment is plan­ning to sell K500 tick­ets to the Aung Bar Lay lot­tery as an in­cen­tive to pull peo­ple away from the pro­lif­er­a­tion of il­le­gal lot­ter­ies. Ad­di­tional, smaller prizes have also been added to in­crease in­ter­est. After the jack­pot, the sec­ond-place prize will be worth K500 mil­lion, while K100 mil­lion will be given away for the third prize. Other prizes are in K10 mil­lion, K5 mil­lion and K1 mil­lion increments. The low­est prize is worth K50,000.

The in­creased win­nings are part of the In­ter­nal Rev­enue De­part­ment’s plan to boost tax money. A 40pc tax is typ­i­cally col­lected from ev­ery ticket.

Amyotha Hlut­taw MP U Htein Win (NLD; Aye­yarwady 4) noted that many lot­tery win­ners never col­lect their prize.

“More than K2 bil­lion on av­er­age is seized an­nu­ally and added to the na­tional fi­nances from lot­tery prizes never col­lected,” he said. “There were 3729 un­claimed prizes worth K410.9 mil­lion after the 314th Aung Bar Lay Lot­tery in 2015.” – Trans­la­tion by Khant Lin Oo

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