Ministers request budget approval at the 2nd Pyidaungsu Hluttaw fourth regular session

Ministers requested budget approval for a nationwide housing project on the third day meeting of the 2nd Pyidaungsu Hluttaw’s fourth regular session yesterday.
U Win Khine, the Union Minister for Construction, presented the plans for a project that would result in one million apartments in 330 townships by 2030. The apartment buildings would be constructed by the private sector and public sector and to come out systematically to townships in Myanmar as organised urban planning.
He presented the projects, which are included for the 2017-2018 fiscal year, and clarified the balance sheet, which is in the draft law of the budget.
According to the draft of the national project for the 2017-2018 fiscal year, the ministry of construction will implement the projects by complying with four policies, three aims and four procedures.
The ministry’s estimated revenue is Ks 54.292 billion in regular revenue, Ks 37.590 billion in capital revenue and Ks182.332 billion for debit expenditure, and then the grant total is Ks 274.214 billion.
He also clarified the total expenditure amount for the project is Ks 503.068 billion. The projection of total expenditure are Ks103.289 billion for regular expenditure, Ks 374.779 billion for lump sum expenditure and Ks 25 billion for debt expenditure.
The minister added that the projection of the balance sheet for the project was developed within the framework of the Ministry of Planning and Finance and was approved by the Ministry of Planning and Finance and Financial Commission after it was checked at a different level. The minister requested these required budgets in the draft to be approved.
Deputy Minister for Ministry of Planning and Finance, U Maung Maung Win, also explained the ministry’s policy, aims and procedures and requested the approval for revenue Ks 6905460.439 million and for expenditure Ks 4842870.726 million for the ministry’s operation.
U Tin Htut, a member of the Nay Pyi Taw Council,  also explained its total expenditure of Ks 27316.154 million for the 2017-2018 fiscal year. He made clear the projection revenue fund for Nay Pyi Taw Development Council is Ks 29,408 million and Ks 11,139.935 million is to be given by the government.
The projects in the draft for the 2017-2018 fiscal year were explained by Union Minister Dr Win Myat Aye for Ministry of Social Welfare Relief and Resettlement, Union Minister Dr Myint Htwe for Ministry of Health and Sports, Union Minister Naing Thet Lwin for Ministry of Ethnic Affair, Union Minister U Ohn Maung for Minstry of Hotel and Tourism, Deputy Chairman of Central Bank of Myanmar U Soe Min.
The Pyidaungsu Hluttaw Speaker asked MPs to report findings concerned with project and balance sheets in the draft for the fiscal year 2017-2018, which need to be submitted no later than February 6.—Myanmar News Agency

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