Pyithu Hluttaw discusses banking, education sectors

Speaker of Pyithu Hluttaw U Win Myint.  Photo: MNA
Speaker of Pyithu Hluttaw U Win Myint.  Photo: MNA

The seventh session of the second Pyithu Hluttaw held its 22nd-day meeting at the Pyithu Hluttaw meeting hall of the Hluttaw building in Nay Pyi Taw yesterday morning.
At the meeting, a question each on the banking sector and election, as well as four questions on the education sector, were asked and answered, a motion on health tabled and the Hluttaw informed about a bill.
First, U Myint Oo of the Bago Region’s Thanatpin constituency raised a question about whether the Development Affairs committees (municipal committees) in regions and states have a plan in place to disburse the shares to shareholders and asked the Central Bank of Myanmar if it was legal to use the funds of the committees to establish private or public banks, as such funds are owned by the government.
Deputy Governor of the Central Bank of Myanmar U Soe Thein said banks were formed with shares, and if there is a profit in a year, the profit is shared according to the shareholding.
However, buying shares in a bank is tantamount to investing in the bank, and shareholders have no right to request for the redeeming of shares until the company (bank) is dissolved. After accounts receivable and account payables are cleared, the remaining balance will be paid according to the shareholding. As such, according to the laws and rules, it is not possible to distribute the capital of the development committees of the states and regions, said U Soe Thein.
According to the law, the funds of the development committees are government funds, and government entities holding shares in the development committees need to follow the laws and rules, noted U Soe Thein.
Responding to a question posed by U Tin Htway of Waw constituency on the arrangements made to prepare a voters’ list to elect the people’s representatives to the Hluttaw, Union Election Commission member U Soe Rae said the voters’ list was based on the population list in the ward and village tract administrator’s offices, and the voters’ list was prepared under the guidance of states and regions, districts and townships election commissions. With the cooperation of the heads of 100 households and 10 households, the transfer in/out and deaths were updated to complete the voters’ list, explained U Soe Rae.
Union Minister for Education Dr. Myo Thein Gyi responded to a question put forth by U Khin Maung Thi of Loilem constituency on the plan to open an examination centre in Mongpan to enable students from Mongpan Basic Education High School to take the matriculation examination.
U Khin Maung Thi of Loilem constituency asked whether there was a plan to open an examination centre in Mongpan to enable students from Mongpan Basic Education High School to take the matriculation examination. Union Minister for Education Dr. Myo Thein Gyi explained that there were 133 students from Mongpan Basic Education High School taking the 2018 matriculation examination, and an examination centre is to be opened in Mongpan. Myo Myint (Myanmar News Agency)view 4

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