• Burmese
Saturday, July 12, 2025
No Result
View All Result
NEWSLETTER
The Irrawaddy
25 °c
Yangon
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Business
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Junta Watch
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Books
  • Donation
No Result
View All Result
The Irrawaddy
No Result
View All Result
Home News Burma

Rangoon Lawmakers Demand Action from Officials over Lost Billions in Business Dealings

Moe Myint by Moe Myint
April 27, 2017
in Burma
Reading Time: 2 mins read
0 0
A A
Rangoon Parliament / Moe Myint / The Irrawaddy

Rangoon Parliament / Moe Myint / The Irrawaddy

7.2k
VIEWS
Share on FacebookShare on Twitter

RANGOON — Rangoon Parliament’s bill and public accounts committees on Wednesday urged the regional government to take action against officials responsible for billion kyat losses in state-private joint ventures under the previous government.

Parliamentarians discussed joint venture projects that favored certain companies by offering reduced leases on government land and other mismanagement following the committees’ reviews of the 2015-16 fiscal year report submitted to Parliament by Daw Khin Hla Than of the Auditor General’s Office for Rangoon Division.

According to the auditor general’s 2015-16 fiscal year report, the divisional government lost 13 billion kyats in leasing commercial space to construction companies and suffered a whopping 58 billion kyats loss from long-term reduced rent leasing of public lands and parks.

RelatedPosts

Paranoid Junta Turns to Foreign Expertise After 4 Years of Chaos; and More

Paranoid Junta Turns to Foreign Expertise After 4 Years of Chaos; and More

May 10, 2025
1.6k
Naypyitaw Parliament Crumbles as Myanmar Junta’s Grand Ambitions Collapse 

Naypyitaw Parliament Crumbles as Myanmar Junta’s Grand Ambitions Collapse 

April 24, 2025
1.4k
Plundering Paradise: China’s Role in Myanmar’s Environmental Crisis

Plundering Paradise: China’s Role in Myanmar’s Environmental Crisis

January 24, 2025
1.7k

Leader of the bill committee U Tint Lwin pointed out that the construction ministry had mismanaged 40 million kyats of loans and neglected to provide a detailed report of projects with the military-owned Myanmar Economic Corporation.

The government should investigate the mismanagement as it dented the treasury, he said.

He also suggested the regional government review the long-term profit sharing projects that were established by ex-Rangoon chief minister U Myint Swe, which gave private companies very favorable leases.

Some projects were allocated by the Yangon City Committee Development (YCDC) without approval from the regional cabinet, he said.

Lawmaker for Kyauktada Township Daw Kyi Pyar said: “We understand that the new government cannot terminate contracts which were signed by the previous government, but to fill gaps in the country, the government can negotiate new terms and conditions of joint venture projects with private companies.”

Lawmakers criticized the fact that the majority of public land leasing and profit-sharing projects were given to Burma’s notorious tycoons and cronies, calling instead for transparent processes.

Lawmaker U Kyaw Zeya of Dagon constituency suggested that the government consult experts and introduce new rules and regulations for the concerned companies.

Hlaing Township lawmaker Daw Khaing Mar Htay said: “I am shocked that joint venture partners were leased land very cheaply.”

Your Thoughts …
Tags: Burma ArmyDevelopmentRangoonYangon City Development Council
Moe Myint

Moe Myint

The Irrawaddy

Similar Picks:

It’s Time to Engage The Resistance Govt in Myanmar’s Rakhine
Guest Column

It’s Time to Engage The Resistance Govt in Myanmar’s Rakhine

by Mra Thida
March 29, 2024
2.8k

The junta’s loss of control over much of Myanmar’s westernmost state has made the United League of Arakan the most...

Read moreDetails
Plundering Paradise: China’s Role in Myanmar’s Environmental Crisis
Guest Column

Plundering Paradise: China’s Role in Myanmar’s Environmental Crisis

by Vaishali Basu Sharma
January 24, 2025
1.7k

China’s aggressive resource extraction in Myanmar is leaving a trail of environmental destruction and debt dependency in its wake, warns...

Read moreDetails
Paranoid Junta Turns to Foreign Expertise After 4 Years of Chaos; and More
Junta Watch

Paranoid Junta Turns to Foreign Expertise After 4 Years of Chaos; and More

by The Irrawaddy
May 10, 2025
1.6k

Also this week, regime boss Min Aung Hlaing joined his main allies in Moscow as his regime bombed resistance-held territory...

Read moreDetails
Myanmar Power Shortage Leaves Millions at Mercy of Searing Summer
Features

Myanmar Power Shortage Leaves Millions at Mercy of Searing Summer

by Yuzana
May 8, 2023
6.8k

Electricity and water outages menace households and entrepreneurs as country slides further into chaos under military rule.    

Read moreDetails
Naypyitaw Parliament Crumbles as Myanmar Junta’s Grand Ambitions Collapse 
Burma

Naypyitaw Parliament Crumbles as Myanmar Junta’s Grand Ambitions Collapse 

by Lin Thurein Kyaw
April 24, 2025
1.4k

Built by regime cronies just two decades ago as a monument to military rule, the Parliament complex failed to withstand...

Read moreDetails
Is STEM-Based Higher Education Currently Out of Reach For Myanmar Refugees?
Guest Column

Is STEM-Based Higher Education Currently Out of Reach For Myanmar Refugees?

by Hope Akhtar and Dr. Sheraz Akhtar
July 30, 2024
1.3k

Refugee students are eager to pursue higher education focused on science, technology, engineering and mathematics. Expanding access to it will...

Read moreDetails
Load More
Next Post
The signboard of Gen Aung San Bridge (Belu Island) is fixed to the bridge. / Min Min New / Facebook

Controversial Bridge Opened to Public Under the Name of Gen Aung San

Small-scale oil production sites in Magwe Division. / The Irrawaddy

Lending Firm To Return More Than One Billion Kyats to Magwe Govt

No Result
View All Result

Recommended

‘Reforms Are Not Optional’: Prominent Activist Urges NUG to Act Before It’s Too Late

‘Reforms Are Not Optional’: Prominent Activist Urges NUG to Act Before It’s Too Late

3 days ago
1.1k
Trump’s Tariffs to Hit Myanmar’s Garment Manufacturers Hard

Trump’s Tariffs to Hit Myanmar’s Garment Manufacturers Hard

3 days ago
1.1k

Most Read

  • Myanmar Junta Deploying Conscripts in Major Push to Reclaim Lost Territory

    Myanmar Junta Deploying Conscripts in Major Push to Reclaim Lost Territory

    shares
    Share 0 Tweet 0
  • Myanmar Junta Chief Thanks Trump for Shutting Down VOA and RFA

    shares
    Share 0 Tweet 0
  • Chinese Investment Reshapes Myanmar’s N. Shan as MNDAA Consolidates Power

    shares
    Share 0 Tweet 0
  • KIA Denies Rumor Chief Under House Arrest in China

    shares
    Share 0 Tweet 0
  • Myanmar Junta Airstrikes Kill 25 on Friday

    shares
    Share 0 Tweet 0

Newsletter

Get The Irrawaddy’s latest news, analyses and opinion pieces on Myanmar in your inbox.

Subscribe here for daily updates.

Contents

  • News
  • Politics
  • War Against the Junta
  • Myanmar’s Crisis & the World
  • Conflicts In Numbers
  • Junta Crony
  • Ethnic Issues
  • Asia
  • World
  • Business
  • Economy
  • Election 2020
  • Elections in History
  • Cartoons
  • Features
  • Opinion
  • Editorial
  • Commentary
  • Guest Column
  • Analysis
  • Letters
  • In Person
  • Interview
  • Profile
  • Dateline
  • Specials
  • Myanmar Diary
  • Women & Gender
  • Places in History
  • On This Day
  • From the Archive
  • Myanmar & COVID-19
  • Intelligence
  • Myanmar-China Watch
  • Lifestyle
  • Travel
  • Food
  • Fashion & Design
  • Videos
  • Photos
  • Photo Essay
  • Donation

About The Irrawaddy

Founded in 1993 by a group of Myanmar journalists living in exile in Thailand, The Irrawaddy is a leading source of reliable news, information, and analysis on Burma/Myanmar and the Southeast Asian region. From its inception, The Irrawaddy has been an independent news media group, unaffiliated with any political party, organization or government. We believe that media must be free and independent and we strive to preserve press freedom.

  • Copyright
  • Code of Ethics
  • Privacy Policy
  • Team
  • About Us
  • Careers
  • Contact
  • Burmese

© 2023 Irrawaddy Publishing Group. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
    • Burma
    • Politics
    • World
    • Asia
    • Myanmar’s Crisis & the World
    • Ethnic Issues
    • War Against the Junta
    • Junta Cronies
    • Conflicts In Numbers
    • Junta Watch
    • Fact Check
    • Investigation
    • Myanmar-China Watch
    • Obituaries
  • Politics
  • Opinion
    • Commentary
    • Guest Column
    • Analysis
    • Editorial
    • Stories That Shaped Us
    • Letters
  • Ethnic Issues
  • War Against the Junta
  • In Person
    • Interview
    • Profile
  • Business
    • Economy
    • Business Roundup
  • Books
  • Donation

© 2023 Irrawaddy Publishing Group. All Rights Reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.