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List of Successful Bidders for Power Plants under the Department of Sustainable Energy and Hydropower for the Fiscal Year 2020-2021 is released

The Ministry of Power and Energy has released a list of successful companies for the power plants under the Department of Sustainable Energy and Hydropower for the fiscal year 2020-2021. The list of company that have won the tender has been announced by the Ministry of Electricity and Energy Tender No.47 & 48 / EPGE / 2020-2021 from MOGE website for power plants under the Department of Sustainable Energy and Hydropower for the fiscal year 2020-21. Meeting No. of Tender Scrutiny Committee (17 / 2020-2021) and Tender No.49 & 56 / EPGE / 2020-2021 Meeting of Tender Scrutiny Committee No. (24 / 2020-2021). Among the successful bidders for power plants under the Department of Sustainable Energy and Hydropower, Yadanar Theingi Co., Ltd, Min Wai Thit International Co., Ltd, Pacific High Technology International Co., Ltd, Zayar Regal Aurum Co., Ltd, SOFU Co., Ltd, Arkarthit Enterprise Co., Ltd, Win Sabei Co. , Ltd and Constructive Engineers Co., Ltd are included.

In the 2019-2020 fiscal year, 3,225 megawatts of hydropower will be generated from energy sources. 2773 MW from natural gas; 40 megawatts of solar power; LNG has generated 900 megawatts and coal from 120 megawatts for a total of 7058 megawatts, according to the Ministry of Power and Energy. In 2015-2016 fiscal year, 3181 MW from hydropower in; 1752 MW from natural gas; Coal generates 120 megawatts for a total of 5,053 megawatts. 63% from hydropower; 35% from natural gas and 2% from coal are generated. In the 2018-2019 fiscal year, 11,227.82 million kilowatt-hours will be generated from hydropower generation. 9366.56 million kilowatt hours from natural gas; 2,169.70 million kilowatt hours from steam; Diesel produces 104.73 million kilowatt-hours, according to the Central Statistics Office, citing the Ministry of Power and Energy.

In the 2018-2019 fiscal year, 11,227.82 million kilowatt-hours will be generated from hydropower generation. 9366.56 million kilowatt hours from natural gas; 2,169.70 million kilowatt hours from steam; diesel produces 104.73 million kilowatt-hours, according to the Central Statistics Office, citing the Ministry of Power and Energy. In the 2017-2018 financial year, 12,265.03 million kilowatt hours from hydropower; 7,459.22 million kilowatt-hours from natural gas; 1,080.60 million kilowatt hours from steam; diesel generates 77.55 million kilowatt hours. In the 2016-2017 financial year, 12,265.03 million kilowatt hours from hydropower; 7,459.22 million kilowatt-hours from natural gas; 1,080.60 million kilowatt hours from steam; diesel generates 77.55 million kilowatt hours. The annual power generation capacity of the Ministry of Electricity and Energy was 15965 million units in the 2015-2016 fiscal year. 17867 million units in the 2016-2017 financial year.

In the fiscal year 2017-2018, million units 200555; In the 2018-2019 financial year, 22879 million units; In the 2019-2020 fiscal year, production increased to 27,300 million units, according to a statement from the Central Statistics Office, citing the Ministry of Power and Energy. According to the officials from the Ministry of Power and Energy, four projects are underway including Upper Kengtung Hydropower Project, 51 MW for Myanmar’s electricity needs; 280 MW Upper Yeywa Hydropower Project; 152 MW Central Paunglaung Hydropower Project and 111 MW Thu Htay hydropower project. The Upper Kyaing Kaung Hydropower Project (51 MW) is being built in 2021-2022 and the Upper Yeywa Hydropower Project will generate 280 MW in 2022-2023 to meet the growing demand for electricity. A 152-megawatt central Paunglaung hydropower plant is under construction in 2024-2025 and the 111-megawatt Thu Htay hydropower project is expected to be completed in 2025-2026.

Source: Daily Eleven

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In the first eight months of the current fiscal year, natural gas exports generated about $ 1.4 billion, down more than $ 1 billion from the same period last year

In the first eight months of the current fiscal year, natural gas exports earned about $ 1.4 billion, down more than $ 1 billion from the same period last year, according to an official from the Ministry of Commerce. In the eight months from October 1 to May 28 of the 2020-2021 fiscal year, only $ 1.389 billion was earned from natural gas exports. In the same period last year, it earned $ 2.406 billion. Over the past five years, Myanmar has earned more than $ 17.5 billion from natural gas exports, with the largest export in the 2018-2019 fiscal year at over $ 3.9 billion, published by the Information Unit.

From October 2019 to September 2020, the last fiscal year 2019-2020, natural gas exports generated $ 3.506 billion ($ 3506.62 million). In fiscal year 2018-2019, revenue from natural gas exports reached $ 3.924 billion ($ 3924.92 million). Revenue from natural gas exports in the 2017-2018 fiscal year was $ 3.513 billion ($ 3,513.21 million). In the 2016-2017 fiscal year, revenue was $ 3.116 billion ($ 3,116.34 million). Revenue was $ 3.445 billion ($ 3,445.10 million) in the 2015-16 fiscal year.

Annual natural gas production in the 2016-2017 fiscal year was 67,000 million cubic feet; In the 2017-2018 financial year, 667583 million cubic feet. In the 2018-2019 fiscal year, it produced 62,7007 million cubic feet and in the fiscal year 2019-2020, 670,362 million cubic feet were produced. At the press conference held at the Ministry of Information in Nay Pyi Taw on May 9, 2019, the State-owned newspaper published a statement on the activities of the Ministry of Electricity and Energy in the third year of the people.

According to the Ministry of Power and Energy, there are a total of 104 oil and gas blocks in Myanmar, of which 51 are offshore and 53 onshore. If we look at the per capita electricity consumption increase year by year, the fiscal year 2015-2016 was 263 kWh; 301 kWh in the 2016-2017 financial year; 335 kilowatt hours in the 2017-2018 fiscal year; In the 2018-2019 fiscal year, it was 379 kilowatt hours and in the 2019-2020 fiscal year, it increased to 432 kilowatt hours, and in five years it increased to 169 kilowatt hours, according to the Ministry of Power and Energy.

Source: Daily Eleven

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The average inflation rate for February 2021 was 2.61 percent, the lowest since March 2020

The average inflation rate for February 2021 was 2.61 percent which has been falling steadily since March 2020, according to the consumer price inflation and inflation rate released by the Central Statistical Organization. The average inflation rate rose for 18 consecutive months from April 2018 to September 2019. It was slightly lower in October and November 2019 and it rose again in December of 2019, January and February of 2020. But it fell again in March, April, May, June, July, August, September, October, November and December and January and February of 2021.

If we look at the national annual inflation rate for the one-year period from February 2020 to February 2021, based on the 2012 , the inflation rate was 8.36 percent in February 2020, and in March 2020, when COVID-19 began in Myanmar 2020, it caused household consumption fell and a decline in fuel prices with an inflation rate of 1.51 percent in February 2021. For the country as a whole, the average inflation rate, based on the 2012 base year consumer prices, averaged 2.61 percent year-on-year in February 2021, down 0.57 percent from 3.18 percent year-on-year in January 202.

From 9.20 percent in February 2020, since March 20, the impact of COVID-19 has been declining in Myanmar, and consumer inflation has slowed and the average inflation rate has risen to 2.61 percent until February 2021. Region Consumer prices and average inflation in the three states and cities were the highest in Ayeyarwady Region at 6.49 percent. In the Union Territory, it is the second highest with 4.67%. Kayin State is the third highest with 4.48%. Annual inflation was highest in Ayeyarwady Region at 4.39 percent and in Mandalay at -19.29 percent, according to the report.

Source: Daily Eleven

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Domestic rice prices up by K2,000 per bag

The rice prices in domestic markets have increased by K2,000 per bag, said U Than Oo, secretary of Bayintnaung Rice Wholesale Centre. At present, rice worth K32,000-35,000 per bag is highly demanded in the market. The prices of high-quality rice move in the range of K27,000-35,000 per bag. The figures show an increase of K2,000 per bag.

It is expected that the rice fetches at a lower rate before Thingyan Festival (Myanmar New Year Festival in April). Shortly after that, the price usually goes up. During the early monsoon, the rice stocks are commonly found in the hands of millers instead of farmers. Consequently, the price hike occurs amid low supply. The rice prices usually hit a peak in Thadingyut and Tazaungdaing festivals (Oct-Nov). When the newly harvested rice enters the market, the price declines.

The price is unlikely to fall this month, Bayintnaung Rice Wholesale Centre reported. The price possibly remains high for now. The farmers also set the rice crops higher. The demand in the retail market is not that good. The export is not strong as well. As a result, the sharp price hike is not expected amid the low demand. About 80,000 rice and broken rice bags were earlier traded per day at the Bayintnaung Rice Wholesale Centre. In contrast, the trade volume plummeted to about 30,000 bags at present.

Source: The Global New Light of Myanmar

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Individual trades through land border exceed K10.85 bln in four months

According to data released by the Ministry of Commerce, trade conducted by Individual Trading Card (ITC) holders reached over K10.85 billion through the land border in the first four months of the current financial year 2020-2021. The Trade Department issued 23 cards in the Oct-Jan period this FY. Imports exceeded K9.19 billion, and exports were valued at just K1.658 billion. The Myawady border recorded the highest trade value at K7.77 billion, according to the Commerce Ministry. Nevertheless, the figure only reflected imports as individual trading cardholders did not export goods through the Myawady gate. The value of trade carried out by individual cardholders stood at K144 million at Tamu post, K116 million at Tachilek, K704 million at Kawthoung, K2.09 billion at Mawtaung and K14.2 million at Kengtung, as per data from the Commerce Ministry.

At present, individual traders are no longer permitted to import the soap, detergent powder and toothpaste through the land border with the Individual Trading Card (IRC) starting from 4 June 2020, with a view to safeguarding the interests of local SMEs and helping them survive in a highly competitive market. Nevertheless, the restriction does not impact the regular traders with import/export licence. Fifty per cent of soap, detergent powder and toothpaste imports through Myanmar-Thailand border are done with ITC cards. Another 50 pc is carried out with the regular import/export licence. The import ban will hike the prices and cause negative consequences to the consumers and traders engaged in border market, a market observer shared his opinion.

Additionally, Myanmar’s Trade Department under the Ministry of Commerce notified that four food commodities are to be temporarily restricted for import via the Myanmar-Thailand border starting from 1 May, Myawady Trade Zone reported. The restricted items include various beverages, coffee mix and tea mix, instant coffee, and condensed milk and evaporated milk. However, they can be imported through maritime trade. Individual trades topped K737 million from 21 November 2012 to 31 March 2013 and exceeded K6.6 billion in the FY2013-2014. They reached K9.37 billion in the 2014-2015FY and stood at over K6.4 billion in the 2015-2016FY. They rose above K18.5 billion in the 2016-2017FY and touched K45.9 billion in the 2017-2018FY, with K22.5 billion during the 2018 mini-budget period (April-September) and K59 billion in the 2018-2019FY.

They drastically plunged to K43.32 billion in FY2019-2020. The individual traders who cannot establish their own company can trade with the ITC in the border area. However, trading volume is limited. The card validity is set for only one year. The cardholders need to extend the card at the respective border posts one month before the expiry date. Trading with the use of ITC is based on local currency. Hundreds of exports and imports items have been allowed for individual trading via the border posts. The traders can seek the ITC at the offices of Tamu, Muse, Myawady, Tachilek, Lwejel, Sittway, Maungtaw, Chinshwehaw, Kampaiti, Myeik, Kawthoung, Reed, Htantlang, Mawtaung, Hteekhee, Kyainglat, Meisei and export/import offices in Mandalay, Kengtung and Myitkyina. The trade department has issued 1,798 cards so far, intending to boost trade. People in business can trade goods worth K3 million per day using ITCs. The Trade Department has permitted trade of up to K15 million per day over five days.

Source: The Global New Light of Myanmar

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Myanmar mineral exports slump amid impacts of global pandemic

The value of Myanmar’s mineral exports has drastically plunged to US$620.5 million as of 28 May in the current financial year 2020-2021 since 1 October. It reflects a severe drop of $622.7 million as against one year ago period, the Ministry of Commerce’s data indicated. The mineral exports hit over $1.24 billion in the corresponding period of last FY. The coronavirus related disruptions led to the slump in mineral exports this FY. The heightened COVID-19 measures also shut down the events like gem emporium and expo last year, a trader said. So far, excavation of over 1,250 mining blocks has been permitted on a manageable, small, medium, and large scale, according to the Ministry of Natural Resources and Environmental Conservation.

Due to the limited extraction of natural resources, exports of forest products and minerals had dropped significantly in the previous years. Permits for mining blocks were suspended in 2016. However, after two years, Myanmar’s mining sector has now been opened to local and foreign investors, according to the ministry. Within two years of implementing the Myanmar Mining Law, the Mining Department has approved more than 140 out of 3,000 proposed mining blocks. Many more blocks are to be granted the permit. The Myanmar Mining Law was enacted on 24 December 2015. However, the law came into force when the rules were issued on 13 February 2018. Under the new regulations, foreign firms can invest in large blocks covering up to 500,000 acres (about 202,000 hectares).

In contrast, local firms can invest in all kinds of blocks. Investors can seek a permit to mine for minerals such as gold, copper, lead and tin. The licences cover prospecting, exploration, and production. According to data from the Ministry of Commerce, Myanmar’s mineral exports have shown a remarkable increase in the previous FY2019-2020, touching $1.87 billion, an increase of $405.48 million compared with the year-ago period. In the FY2018-2019, mineral exports were pegged at just $1.465 billion. Myanmar’s mineral products constitute 10 per cent of overall exports. About 80 per cent of mineral products are shipped to external markets through sea trade. At the same time, 20 of them are sent to neighbouring countries through border trade channels.

Source: The Global New Light of Myanmar