Impact of COVID-19: Working Committee holds meeting for national economy

The meeting of Working Committee to address the impact of COVID-19 on the national economy (2/2024) was held this morning at Office No. (1), Ministry of Investment and Foreign Economic Relations. 

The meeting was chaired by Dr. Kan Zaw, Union Minister for Investment and Foreign Economic Relations and attended by the members of the Working Committee; Deputy Ministers for Ministry of Planning and Finance, Ministry of Investment and Foreign Economic Relations, Ministry of Labor and Ministry of Hotels and Tourism, and Deputy Governor of Central Bank of Myanmar.

Moreover, Permanent Secretaries and Senior Officials from the Ministry of Transport and Communications, Ministry of Commerce also attended the said meeting.

The meeting discussed the total reimbursement status of the 70 billion Kyats which include repayment of the state's revolving fund 50 billion Kyats and 20 billion Kyats from 2019-2020 Fiscal Year General Reserve Fund (GRF) 150 billion Kyats. The repayment period for loans to the Film, Music, Theatrical, Press and Media Sector has been extended by one year.

The meeting also discussed the process of collecting the loan from the Covid-19 fund and the process to be carried out. Also, Secretary of the Working Committee, Deputy Minister for Investment and Foreign Economic Relations, Dr. Wah Wah Maung discussed detailed loan repayment monitoring situations in regions and states and collaboration with concerned Ministries, credit supervision teams and the situation of capital and interest return.

The meeting also discussed the process to be carried out by the committee, overdue loan recovery plans and procedures, cooperation and collaboration with the departmental concerned.