Pyidaungsu Hluttaw held its final meeting of the 17th regular session yesterday, with the approvals of Union Taxation Law 2020 and the 8.4 million euro zero-interest loan from UniCredit Bank of Austria.
The Hluttaw first announced taking record on appointment of Kachin State’s Security and Border Affairs Minister Colonel Kyaw Lin Aung as per Article 21 (b) of Pyidaungsu Hluttaw Law to substitute his precursor Colonel Nay Lin Tun who have returned to his military duties.
Union Taxation Bill 2020
Pyidaungsu Hluttaw Joint Bill Committee Secretary Dr Myat Nyana Soe reported each paragraph of the Union Taxation Bill 2020, and the provisions of bill were discussed by the MPs.
After Deputy Minister for Planning, Finance and Industry U Maung Maung Win submitted the bill, the Hluttaw announced approval for it.
Zero-interest loan from UniCredit Bank
The Hluttaw representatives then discussed a loan proposal sent by the President to get 8.4 million euro zero-interest loan from the UniCredit Bank of Austria for construction of a suspension bridge that will cross Thanlwin River.
MP U Aung Kyaw Oo from Mongton constituency supported the proposal as the bridge will shorten the distance between the southern and eastern parts of Shan State and it will be strategically useful for both civil and military purposes.
MP U Khin Cho from Hlaingbwe constituency also supported the proposal with some suggestions for strict adherence to the rules in loan agreements and the completion of bridge project in the 2-years fixed term, while preparations are needed for unexpected situations in the project.
MP Nang Khin Saw from Kunhing constituency agreed to get the loan as the new bridge could help commodity flows not only to eastern Shan State, but also to Thailand, Laos and China, development of socioeconomic situations of local people, and 52-mile decrease in distance between Taunggyi and Tachileik to be able to make day trip between the two cities.
The loan proposal was also discussed by the four other Hluttaw representatives.
Deputy Minister for Construction Dr Kyaw Linn sought the approval of Hluttaw on the loan proposal, saying that the bridge with the load capacity of 75 tonnes will be useful for vehicles between Taunggyi and Thailand and helpful in development of Shan State.
Deputy Minister for Planning, Finance and Industry agreed on the loan proposal and explained the ministry’s plan for preparing the loan agreement with the UniCredit Bank in line with the rules and regulations.
The Pyidaungsu Hluttaw Speaker then announced the unanimously approval of Hluttaw on the loan.
Concluding Speech for 17th regular session
Pyidaungsu Hluttaw Speaker U T Khun Myat made a concluding speech to the 17th regular session of Hluttaw which approved the National Planning Bill, Union Budget Bill 2020 and the Union Taxation Bill 2020.
He also advised the MPs who will contest the upcoming November 8 elections to abide by the rules and regulations of the Union Election Commission, while the legislative, administrative and judiciary pillars need to cooperate with the UEC for ensuring the free and fair elections.
He also called for the return of remaining funds for Pyidaungsu Hluttaw’s development budgets to the Treasury Department as only 103 townships have submitted the accomplishment report on using these budges and other townships are to present their report within the fixed date.— Aung Ye Thwin, Aye Aye Thant(Translated by Aung Khin)