Market licences to be auctioned in Nay Pyi Taw
THE capital’s markets will soon be up for grabs to the highest bidder.
Hoping to increase both government revenue and employment opportunities in the region, the Nay Pyi Taw City Development Committee is auctioning off licences to operate 28 of the municipality’s markets.
U Maung Maung San, director of the committee’s market department, announced that the licence auction will take place at Nay Pyi Taw City Development Committee’s City Hall on October 28 at 10am.
“Currently municipal workers are being employed to collect rental fees from the market’s vendors. After the market is privatised, we can reassign these workers to clean the market instead. Then there will be more job opportunities as the private contractors will need to hire employees to collect fees on their behalf,” he said.
The licences being auctioned will be valid for a five-month period from November 1 to March 31. Successful bidders will have to pay a premium fee fixed at 10 percent of the market’s floor price.
Currently Akwat Gyi 4 Market is being offered at the highest premium – K3.75 million. The next highest premiums are for the licences for Thapya Kone and Aharya Thukha markets.
The new licence holders will be allowed to collect K100 per 4-by-4 square feet of space. This is double the rate currently collected by the municipality.
Despite this, some market vendors do not seem to be too concerned by the possible price hike.
“It is not a problem for us if we have to pay higher fee for a market space. However, we want a wider store-front and would like to negotiate with the market’s new owners for this,” said Daw Hla Kyi, a greengrocer from Aharya Thuka Market.
– Translation by Zar Zar Soe
Licences for 28 of Nay Pyi Taw’s markets will be up for auction on October 28.