Due to the rising price of diesel, 800 kyats per unit will be charged in Ye Township from this month

Due to the rising price of diesel, electricity will be charged at 800 kyats per unit in Ye Township from this month, according to Myat Thura, a private electricity supplier to Ye Township and surrounding villages. For the current October, the electricity meter price will be changed to 800 kyats per unit. The increase in meter prices has made the people who use electricity more burdened. According to the current diesel price, the price per meter is not fixed. An official from Myat Thura Company, said that the price of a liter of diesel used to be 220,000 kyats, but now it is 305,000 kyats per liter.

If there is an increase in the meter price, they have to negotiate with the relevant authorities. This is a time when the public is in a tight spot, which can be a problem for consumers. If diesel prices fall again, the meter price will be reduced. They simply want the government to provide electricity as soon as possible. The people in Ye Township will be comfortable if the government gets electricity soon, according to an official from Myat Thura Company. During COVID-19 last year, the minimum price was 350 kyats per meter, coordinated by the previous state government. 

Later, it was increased to 500 kyats per unit, and for last August, the electricity meter price was 600 kyats per unit, according to locals. Right now, the price of electricity has gone up a lot. Those who work with electricity are in even more trouble. There is no clue whether their company can match the current price of diesel or not. For this reason, some villages being lit only at night. It is learned that Myat Thura Company has to use more than 60 barrels of diesel to provide electricity for 36 hours. At present, the price of a barrel of diesel is over 300,000 kyats, so the company may have a problem, said a Ye resident. Electricity will cost as much as you use. Businesses that use electricity will also have to go up in price. At this time, ordinary people can spend more.

Source: Daily Eleven


Myanmar maritime trade tops $19.5 bln as of 24 Sept

The value of Myanmar’s maritime trade over the eleven months (1 October-24 September) of the financial year 2020- 2021 sank to US$19.54 billion, which is a 24 per cent drop compared with the same corresponding period of FY2019-2020. The figures plunged from $25.8 billion during the year-ago period, according to the Ministry of Commerce. While maritime exports were valued at $8 billion, imports were registered at $11 billion. Compared to the same period in the 2019-2020 financial year, imports fell by $4 billion, while exports registered a decrease of $2 billion. The maritime trade fell by $6.27 billion as of 24 September as against last year.

Meanwhile, the value of trade through the border this FY was estimated at $9.69 billion, a decrease of $832.7 million as against a year-ago period. Myanmar witnessed aslump in exports and imports triggered by the coronavirus pandemic. Both sea trade and border trade dropped amid the coronavirus impacts and the political changes. For maritime trade, disruption in the logistic sector and the impact of COVID-19 on global shipping scaled-down Myanmar’s maritime trade somehow. The country’s total external trade over the past ten months touched a low of $26.1 billion, which plunged from $33 billion recorded in a year-ago period.

Myanmar’s sea trade generated $29.24 billion out of an overall trade value of $36.3 billion in the last FY2019-2020, the Ministry of Commerce’s statistics indicated. Myanmar exports agricultural products, fishery products, minerals, livestock, forest products, finished industrial goods, and other products, while it imports capital goods, consumer goods, and raw industrial materials. The country currently has nine ports involved in sea trade. Yangon Port is the main gateway for Myanmar’s maritime trade and includes the Yangon inner terminals and the outer Thilawa Port. Yangon inner terminal and the outer Thilawa Port received over 152 larger ships of above 30,000 DWT (Deadweight tonnage) in the past five months (Feb-June) this year after the draft limit is extended up to 10 meters with the new navigation channel accessing to inner Yangon River.

Source: The Global New Light of Myanmar