Some companies express interests in establishing public bus service company

Just more than 3,000 buses of All Bus-Line Control Service can operate daily due to the scarcity of drivers and conductors and the difficulty in securing a license for running bus services. Photo: Aye Min Soe
Just more than 3,000 buses of All Bus-Line Control Service can operate daily due to the scarcity of drivers and conductors and the difficulty in securing a license for running bus services. Photo: Aye Min Soe

Yangon, 10 May — Some companies are eager to invest in the Yangon Region Government’s first public bus service company, according Dr Maung Aung, the adviser to Commerce Ministry.
The project is divided into phases, with the capital for the first phase set at K25 billion and the government to inject K10 billion during the first phase and invite the public to invest in the business by buying shares.
The Yangon Region Government disclosed its plan for establishing a public bus service company last Monday to operate a modern bus service along main routes in Yangon, retaining a 40 per cent share of the company while offering 60 per cent to the public.
Authorized capital of the first public bus service company in Myanmar is set at K100 billion, and the business would be established with the Bus Rapid Transit (BRT Lite) system through the Public, Private, Partnership (PPP) system, said U Myint Swe, the Yangon Region Chief Minister, at a ceremony to invite shareholders for establishing the company.
Each unit of the shares is priced at K100,000, he added.
The first phase would start with around 100 2010-model buses and the company will buy the buses through the tender system, said Dr Maung Aung, an adviser to the Ministry of Commerce..  The first phase is tentatively targeted to launch within five months, and the government has already begun to build stations for the bus line, said Dr Maung Aung.
Foreign investment is not allowed during the first phase of the project, he added.—GNLM

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