Farmers run into difficulty with settlement of loans because of reduced agricultural production

Nay Pyi Taw, 21 Oct — Banking regulations do not allow troubled farmers to delay their settlement of due loans, with the deputy minister saying at the Pyithu Hluttaw (Lower House) on Tuesday that the Myanma Agricultural Bank takes out loans from the Myanma Economic Bank and disburse them to farmers as agricultural loans, which are to be paid back along with interests in the agreed time.
U Khin Zaw, Deputy Minister for Agriculture and Irrigation, was responding to a query concerning the possibility of relaxing some bank regulations for farmers with difficulty repaying their agricultural loans as a result of their crops being devastated by natural disasters and insect pests.
He went on to say that banks still reserve the right to postpone the due date on condition that authorities and bank branches concerned give their seal of approval to the agricultural production hampered by natural events.
Regarding compensations to people with authentic documents of landownership on the compound of the Central Ordnance Depot (COD) in the township of Botahtaung, Deputy Minister for Construction U Soe Tint said that plans are underway to construct two 14-storey buildings with 24 units each for real landowners, adding that the construction is expected to start at the end of October this year.
Responding to a query of foreign offers to the upgrading of the Yangon-Nay Pyi Taw-Mandalay Highway, the deputy minister said that coordination are being made with such foreign agencies as the Japan International Cooperation Agency, the MOLIT-Koica, the Asian Development Bank and the USAid, for technical and monetary assistance.
At the Pyithu Hluttaw, the chairman of the Union Election Commission read out a report on the research findings of the electoral system fit for Myanmar. According to the research findings, there are 12 electoral systems practised by world nations. The UEC chairman said that the First-Past-The-Post system, the Proportional Representation system and the Parallel system are found to match the political landscape of Myanmar.
No nation in the world has ever come up with a perfect electoral system, he cited foreign political experts as suggesting that a country should adopt an electoral system which allows free and fair elections on a level playing field and focuses on stability and peace.

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