Central Committee on Ensuring Smooth Flow of Trade & Goods holds 1/2024 meeting

In his capacity as Chairman of the Central Committee on Ensuring the Smooth Flow of Trade and Goods, State Administration Council Member Deputy Prime Minister Union Minister for Transport and Communications General Mya Tun Oo attended the 1/2024 meeting of the central committee in Nay Pyi Taw yesterday.
Speaking at the event, the Union Minister said the central committee is currently working with the ministries concerned to streamline the domestic and foreign training sectors in accordance with the nine objectives of SAC.
The committee prioritized the fuel in the import sector as it is essential in trade, transportation, agriculture, livestock, social, health, business and other service-related industries. Moreover, it supervises to ensure affordable fuel prices and allows imports freely. The new fuel importing companies will also be reviewed systematically. There were 65 illegal fuel seizures, 298.057 tonnes valued at K738.392 million in December 2023, and 14 seizures, 74.225 tonnes worth of K176.429 million in January 2024.
Moreover, the department concerned also develops software applications for people to easily assess the types of fuel and prices of the fuel stations within 30 miles. The pilot projects are also being conducted at 107 fuel stations in Nay Pyi Taw starting in February.
The basic palm oil reference prices are also released weekly, and the proper arrangements are made to facilitate fuel-related matters, the raw material import sector, and the import of spare parts and machines to run the factories as usual. Under the strict supervision, the export earnings were received from the export companies. Moreover, the export earnings were also reduced to 35:65 per cent instead of 50:50 per cent.
The Union minister talked about the permission for fertilizer and insecticide imports using export incomes from rubber export (between 1 December 2023 and 31 March 2024) and fuel and edible oil imports using export incomes from rice, broken rice, beans and pulses and maize export.
Finally, General Mya Tun Oo urged the committee members and officials to emphasize not causing delays in trading sectors, facilitating flows of trade and goods, and promoting the export sector, and concluded the meeting. — MNA/KTZH