K1 billion Aung Bar Lay jackpot next year
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