Management committee meeting: UEC agreed to cancel party registration of DNOP

The meeting of the Working Committee to address the impact of COVID-19 on the national economy 1/2024 was held in the morning on 15th January at the 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 and the deputy governor of the Central Bank of Myanmar and officials. The meeting discussed the reimbursement status of 50 billion Kyats to the State Revolving Fund and the repayment of 10 billion from 150 billion Kyats issued from the 2019-2020 Financial Year General Reserve Fund (GRF).

The total repayment amount of 60 billion was disclosed at the meeting. The efforts made by Regional/ State Credit Supervision Teams to collect loan principal, loan repayment situations by businesses which have completed three years of the loan term and one-year loan extension to the businesses from Film, Music, Theatrical, Press and Media Sectors are also updated at the meeting. Moreover, the 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 and credit Supervision Teams, as well as 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, and cooperation and collaboration with the departments concerned.