Nay Pyi Taw seeks over K16 million in request for supplementary budget
NAY Pyi Taw Council has requested a supplementary budget for the 2016-17 fiscal year of nearly K17 billion (US$13.1 million) to cover outstanding commercial tax obligations, implementation of road and bridge construction projects, and land compensation dues.
Of the requested funding, K7.95 billion is being sought by Nay Pyi Taw Council and K8.87 billion has been proposed by Nay Pyi Taw City Development Committee, council member U Tin Tun told the Pyidaungsu Hluttaw on November 17.
Nay Pyi Taw Council has already been allocated more than K8 billion for road and bridge construction projects and water and sanitation works, but it has requested the additional funding of nearly that same amount to settle unpaid commercial taxes.
In the current financial year, Nay Pyi Taw Council needs to pay a 5 percent commercial tax totalling about K5.849 billion on public works implemented during the 2014-15 fiscal year and K2.103 billion on works implemented in the 2015-16 financial year.
Nay Pyi Taw City Development Committee’s initial 2016-17 budget allocation of K10.666 billion will not be enough to continue implementing its raft of municipal projects over the course of the remaining five months of the fiscal year, according to U Tin Tun, necessitating the supplementary funding request.
Of its K4.69 billion supplementary budget request for public works, K1.136 billion is earmarked for road and bridge construction, K1.845 is allocated for building restoration works, and K1.128 billion is earmarked for grounds keeping. Another K200 million is earmarked for land compensation payments and K380 million will be used to settle an outstanding 5pc commercial tax obligation for the 2014-15 financial year.
Nay Pyi Taw City Development Committee is also looking to more than double its initial budget for capital expenditures, seeking a supplementary K4.18 billion on top of the original K3.407 billion.
The additional proposed capital expenditure, if approved, would go toward construction and road and bridge works, as well as other municipal projects, U Tin Tun said.
Of the additional proposed capital expenditure, K202 million is earmarked for construction works, and K2.668 billion is earmarked for road and bridge works, U Tin Tun said, with the remainder going toward a variety of expenses including stationery and machinery.
Nay Pyi Taw Council’s proposed annual budgets have been regularly opposed and cut in past parliamentary sessions.
“When it comes to budgets for Nay Pyi Taw, MPs always called for trimming in previous parliament sessions. We have to wait and see for this year,” said a Nay Pyi Taw City Development Committee staffer who asked for anonymity.
The proposed additional funding for Nay Pyi Taw is about 1.1pc of the total supplementary budget proposal – amounting to more than K1.35 trillion – put forward by the Union government. Lawmakers have said approving a supplementary budget bill is a top priority this parliamentary session, which began on November 16. – Translation by Zar Zar Soe