Reducing Edible Oil Import: Loans to be disbursed for upgrading local oil mills

Loans will be given out to the local private entrepreneurs for upgrading local oil mills. It aims to fulfill requirements for investment to expand their business in oil milling, upgrade and construct modern new oil mills.

Thein Swe, Director General, Directorate of Industrial Supervision & Inspection (DISI), said " The oil millers that are being operated currently or are planned to run need the work capitals for buying raw materials and seeking marker promotions. There are two options under the loan application forms; they are loans for machines and tools, and loans to operate the work processes."

The application forms can be applied at the office of Directorate of Industrial Supervision and Inspection not later than 27th December. The form swill be scrutinized in the cooperation of the Department of Consumers Affairs and the Directorate of Industrial Supervision and Inspection offices in regions and states. 

Thein Swe, Director General, Directorate of Industrial Supervision & Inspection (DISI), said " Currently, the edible oil is imported to local and the government wants to reduce the import amount of edible oil. Before, about 80,000 tons of edible oil were imported per month and now, about 50,000 tons are imported. In order to reduce the import of edible oilin local, the local oil mills need to operate more and upgrade."

 Upgrading of local oil mills will provide not only to be sufficient edible oil in local but also enabling to export more the edible oil in the future, it’s learnt.