Par­lia­ment to de­cide on Yan­gon loan re­quest

The Myanmar Times - - Front Page - HTOO THANT [email protected]­times.com

The Pyi­daungsu Hlut­taw is to de­cide on Thurs­day whether to ap­prove the Yan­gon re­gional govern­ment’s plan to bor­row €70 mil­lion from France.

THE Pyi­daungsu Hlut­taw (bi­cam­eral leg­is­la­ture) will de­cide on Thurs­day whether to ap­prove a €70 mil­lion (K127 bil­lion/US$79.68 mil­lion) loan to the Yan­gon re­gional govern­ment from the French Devel­op­ment Agency.

On Mon­day, Yan­gon govern­ment of­fi­cials tes­ti­fied be­fore par­lia­ment on the im­por­tance of the loans to the re­gion.

The loan will fund projects to dig sand­banks on Pazun­daung creek and Nga Moe Yeik creek, up­grade Pazun­daung Mar­ket, and re­pair Strand Road.

Par­lia­ment de­layed ap­proval of the loan on Novem­ber 26 af­ter ob­jec­tions from sev­eral MPs.

At Tues­day’s meet­ing, a num­ber of MPs re­mained un­con­vinced about the ne­ces­sity of the loan.

“When asked about re­pay­ing the debt and where the money will come from, they couldn’t an­swer,” said U Khin Cho, Pyithu Hlut­taw (lower house) MP for Hlaingbwe town­ship in Kayin State.

Daw Khine San Hlaing, lower house MP for Pale town­ship in Sa­gaing Re­gion, said there were still a lot of ques­tions in her mind about the projects to be funded by the loans.

“From what I’ve seen, they have not con­ducted any re­search about the prob­a­bil­ity of im­ple­ment­ing the projects. Also, the pro­posed man­age­ment of the loan is un­sat­is­fac­tory, so we must care­fully con­sider the need for such projects,” she said.

U Khin Khin Maung of North­ern Dagon op­posed the sand­banks project, say­ing, “The Yan­gon govern­ment wants this project solely to help the peo­ple who are run­ning the wa­ter bus.”

U Khin Cho also op­posed the project. “They will dig the sand from Pazun­daung creek then there will be sand again, so it is just waste of money. There will be no change,” he said.

Yan­gon Mayor U Maung Maung Soe said the French govern­ment of­fered the loan, so the city govern­ment ac­cepted it.

Yan­gon Re­gion Trans­port and Com­mu­ni­ca­tion Min­is­ter Daw Ni­lar Kyaw also at­tended the meet­ing.

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