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President Guides NPC Toward FY Planning Meeting Will Determine 2018-2019 Development Projects Based on National Need, Budget

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President Guides NPC Toward FY Planning Meeting Will Determine 2018-2019 Development Projects Based on National Need, Budget LIFE THROUGH THE EYES OF BOGYOKE P-8-9 (OPINION) NATIONAL NATIONAL President attends Finance State Counsellor holds Commission meeting talks with EAO leaders PAGE-2 PAGE-6 Vol. V, No. 89, 2nd Waxing of Second Waso 1380 ME www.globalnewlightofmyanmar.com Saturday, 14 July 2018 President U Win Myint, right, chairs yesterday’s meeting of the National Planning Commission in Nay Pyi Taw. Second from right is State Counsellor Daw Aung San Suu Kyi. PHOTO: MNA President guides NPC toward FY planning Meeting will determine 2018-2019 development projects based on national need, budget PRESIDENT U Win Myint, Auditor General, the Union Civil al Plan before submitting it to the April to September of this year policies, priorities and available Chairman of the National Service Board Chairman, the Pyidaungsu Hluttaw in accord- is considered a transitional pe- State budget. Planning Commission (NPC), Nay Pyi Taw Council Chairman, ance with the 2008 Constitution. riod during which the National Union ministries, states and addressed the commission’s the Central Bank of Myanmar Starting from FY 2018-2019, Planning Law is being enacted regions are to draw and propose meeting (2/2018) held at the Governor, Chief Ministers of the financial year of Myanmar and implemented. project aims based on the United Presidential Palace in Nay Pyi states and regions, Deputy Min- was designated to be from 1 Oc- In drawing up projects for Nations post-millennium sus- Taw yesterday morning. isters, regional chairmen and tober 1 to 30 September. A na- national development, it is nec- tainable development goals, eco- The meeting was attended officials of self-administered di- tional plan and regional projects essary to effectively coordinate nomic policies set by the State, by State Counsellor Daw Aung vision and zones. should be conducted according and draw up work processes ac- long and middle-term aims and San Suu Kyi, Vice-Presidents President U Win Myint said to the newly designated fiscal cording to the current require- in accordance with their own U Myint Swe and U Henry Van the day’s meeting was held to year. ments of the people and for the policies, work processes as well Thio, Union Ministers, the Un- disclose, discuss and approve In changing the financial sustainable development of the as priority programmes. ion Attorney General, the Union the Fiscal Year 2018-2019 Nation- year, the six-month period from country, in accordance with state SEE PAGE-3 INSIDE TODAY LOCAL NEWS BUSINESS NATIONAL OPINION Raw materials Over 100 small- Day Three of Road to peace long, shortage scale jade mining 21st Century but well worth the hits paper blocks in Khamti Panglong effort, for country industry win tender Third Session and people PAGE-4 PAGE-5 PAGE-6 PAGE-8 14 JULY 2018 2 NATIONAL THE GLOBAL NEW LIGHT OF MYANMAR President U Win Myint attends Finance Commission meeting (2/2018) PRESIDENT U Win Myint, of 30 per cent was found to be Chairman of the Finance Com- for maintenance and repair. The mission, addressed the Finance remaining 30 per cent is for trav- Commission meeting (2/2018) el, material purchases, service held yesterday morning at the expenses, education and social Presidential Palace. expenses, pensions, expenses for The meeting was attended by irrigation and rural development. State Counsellor Daw Aung San Further, 36 per cent of the Suu Kyi, Finance Commission capital expenditure was found to Vice-Chairmen, Vice-Presidents be for road and bridge construc- U Myint Swe and U Henry Van tion, while 38 per cent is set aside Thio,Secretary Union Minister U for rural roads, water supplies Soe Win, members the Union At- and other regional development torney General, the Union Auditor work. Also, 16 per cent is for of- General, the Nay Pyi Taw Council fice and public servant housing Chairman, along with Chief Min- construction and 10 per cent for isters from states and regions. The meeting of the Finance Commission in progress yesterday in Nay Pyi Taw. PHOTO: MNA procurement of office materials, President U Win Myint said furniture and vehicles. the present Finance Commission It is necessary to obtain the tions, were being provided as a income is Ks 20,051 billion, ex- Ks 545.373 million expend- meeting (2/2018) is being held nearest estimate for projects, so priority and expenditure for the penditures is Ks 24,954 billion, iture for FY 2018-2019 was re- to discuss and adopt the Union that projects can be managed development of human resourc- the deficit is 4,903 billion and the quested by the Ayeyawady Re- Budget Estimate for Fiscal Year without waste. It is also neces- es, such as education, health and deficit to GDP ratio is 4.62 per gion government to cover their 2018-2019 and the Union Budget sary to manage projects so that social benefits being increased. cent. one year fuel, lubricant, mainte- Bill for Fiscal Year 2018-2019. there is no waste of public funds In order to fulfill the first The budget includes Ks 682 nance expenses and staff allow- Section 221 of the 2008 and to submit the most accurate point of the union’s economic billion in foreign aid and Ks 2,191 ances for river crossing ferries Constitution requires that the estimate for the projects. Esti- policy of ensuring that budget billion in foreign loans. Ks 1,794 operated to assist in the trans- Union Government draft a Un- mates and calculations are to be estimates and actual implemen- billion was supported from the port of goods and people across ion Budget Bill based upon the based on the prevailing rate of the tations are as accurate as pos- Union fund to cover deficits of the river because of the collapse annual Union budget, and after region, and extra or excess funds sible, not only will union level states and regions, which was of the Myaungmya Suspension coordinating with the Financial not used are to be estimated, cal- departments and organizations, also included in the total expend- Bridge. As this amount was re- Commission submit it for approv- culated and returned. but state and region-level depart- iture. quested after the union fund to al to the Pyidaungsu Hluttaw. As It was found that when de- ments and organizations also Also, an emergency fund of support the states and regions per this section, the Financial partments and organisations need to be effectively managed. Ks 100 billion was included in the in FY 2018-2019 was already sub- Commission is to support the Un- request expenditures, many The Finance Commission is budget for responding to unfore- mitted to the Union Government ion Budget Bill for Fiscal Year indirect expenses, such as pro- to discuss and adopt the Union seeable natural disasters. As per office, the total Union fund allo- 2018-2019. curement of office materials and Budget estimate for FY 2018- the National Natural Disaster cated to support the states and FY 2018-2019 is the first furniture were included, and 2019 and Union Budget Bill for Management Law, the State in- regions would increase to Ks budget year after the new fis- there were more departmental FY 2018-2019 so that it could be cluded Ks 20 billion for the Na- 1,793.645 billion. cal year was designated. The expenses in project expenditures. submitted to the Pyidaungsu tional Natural Disaster Manage- The budget estimate drawn outcome of designating a new As such, when expenditures are Hluttaw, said the President. ment Fund this year. up and provided by states and re- fiscal year will result greater drawn up, departmental expens- Next, Finance Commission The Union Budget estimate gions for FY 2018-2019 is submit- than expenditures than usual, es are to be reduced as much as Vice-Chairman Vice-President U for FY 2018-2019 and Union ted to the Financial Commission and it is believed it will assist in possible. As there are limitations Myint Swe said the Union Budget Budget Bill for FY 2018-2019 is for discussion and approval, said improved economic development in the budgets, the priority should estimate was based on provisional being submitted to the Finance the Vice President. of the union. be to include more project work figures of FY 2017-2018. For cap- Commission so that it could re- Finance Commission secre- The government is consist- expenses, and to use them effec- ital expenditures, a project-wise view and approve it, according tary Union Minister for Planning ently working for the benefit of tively. And it is important for the feasibility study was conducted, to the Vice President. and Finance U Soe Win explained the people and to ensure the expenditures to be for work that and only expenditures for con- Afterwards, Finance about the Union Budget estimate full cooperation of those public can be completed during the fiscal struction, procurement and other Commission Vice-Chairman for FY 2018-2019 and Union servants who are participating year. Furthermore, development work that could be completed in Vice-President U Henry Van Budget Bill for FY 2018-2019. in the main sector of establishing policies set by the Union govern- the fiscal year were coordinated Thio said that Ks 1,793.1 billion This was followed by the Nay the union to perform their duties ment are to be implemented by and drawn up by the project plan- will be provided by the Union Pyi Taw Council Chairman and in the union reform work pro- the departments, according to ning department and permitted. to the states and regions in FY Chief Ministers of states and re- cesses, thus their salaries were priorities.
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