Officers assess effective utilization of milling business loans

Myawady Daily sskm
The photo shows a working site of the domestic oil mill.

On-site inspection was carried out to check whether oil millers spend business loans effectively or not, according to a coordination meeting of the Loan Monitoring and Evaluation Team held on 9 November 2023.
At the meeting, the millers are found to comply with the rules so they are considered to be eligible for loan repayment plans, said Permanent Secretary U Khant Zaw, a team leader.
The team disbursed K1.773 billion in loans to 21 oil millers from seven regions and states including Nay Pyi Taw between July and October 2023.
Those millers who have taken out loans need to prepare for mid-term business reports and final reports.
Additionally, region and state groups are also urged to assist the businesspersons in realizing onsite manufacturing processes and business operation conditions in each region.
The team called for second loan proposals on 24 September and those businesspersons in compliance with loan rules and regulations will get financed. — TWA/KK

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