CBM to implement Rupee/Kyat direct payments for India-Myanmar trade

The Central Bank of Myanmar organized a meeting on procedures to implement Rupee/Kyat direct
payments for India-Myanmar trade with governmental departments, state-owned banks and private banks in Nay Pyi Taw yesterday. The meeting was attended by the governor and vice-governors of the Central Bank of Myanmar, the joint secretary of the Central Committee on Ensuring Smooth Flow of Trade and Goods, the director-general of the Trade Department under the Ministry of Commerce, the deputy director-general of the Customs Department, directors- general, deputy directors- general, officials of stateowned banks and private banks. During the meeting, the officials discussed the successful implementation of Yuan/Kyatand Baht/Kyat direct payment on border trade with China and Thailand, plans to implement Rupee/Kyat direct payments for India-Myanmar trade, formation of a working committee on the implementation of Rupee/Kyat payment system under the lead of CBM comprising representatives of Ministry of Foreign Affairs, Ministry of Planning and Finance, Ministry of Commerce, state-owned banks, State Bank of India, Punjab Nation Bank and Yangon Representative Office. It also focused on the Rupee/ Kyat payment Concept Paper approved by the Reserve Bank of India to be conducted by Myanmar and India with the cooperation of the Indian Embassy in Myanmar, designation of Punjab National Bank, India, as a designated bank to carry out Special Rupee Vostro (SRV) account of Myanmar banks, advantages for bilateral trade and payment methods approved by the central banks of two countries. Then, CBM Governor Daw Than Than Swe said it will take into account the fact of the
Rupee/Kyat direct payment system for normal trade in addition to border trade and the importers and exporters will be informed as soon as the instructions and approval of banking system are received, and she concluded the meeting.

Source: The Global New Light of Myanmar

Private International Education Pwal

Date: 13 – 14 May, 2023

Time: 10:00 AM- 5:00 PM (Local Time)

Venue: Novotel Yangon Max, Yangon , Myanmar

Organizer: JeDerns Pwal Co. , Ltd

Details: “Promoting Private International Education Fair in Myanmar”
They believed every individual is unique, therefore PIEP fairs are organised for the sole purpose of bringing together different institutes and parents/ individuals in a convenient location to enable parents and individuals to find the right institute for their children and themselves. It is also for institutes to educate parents/ individuals about their offerings.They want everyone to be furnished with the right information, from the right sources, which will lead to correct selection of institutes and Parents/ individuals can have the confidence that they made no mistake on their selections. School Categories-Preschool (3yrs – 5yrs) / Primary (5yrs – 11yrs) / Secondary (11yrs – 16yrs) / Pre-Uni (16yrs -19yrs ).

Tankers laden with fuel arrive at Thilawa Port from Singapore

The tanker ships from Singapore carrying fuel oil arrived at the oil tanks and jetties of Thilawa port
under the management of the Supervisory Committee on Import, Storage and Distribution of Fuel Oil, Ministry of Energy and Myanmar Petroleum Trade Association yesterday.

The officials of these three sectors and the Myanma Port Authority inspected the processes to ensure proper fuel consumption during the Thingyan period and post-Thingyan period. Regarding the arrival of tanker ships, U Kyaw Kyaw, Chairman of the Information Committee of Myanmar Petroleum Trade Association said,” If I report on the fuel at Thilawa Terminal and in Myanmar, the country has 4,337,405 gallons of 92, 10,480,514 gallons of 95, 1,727,403galloons of 97,30,932,299 gallons of diesel and 2,978,945 gallons of premium. We have enough fuel for 30 days except for 97. Another 13 ships will arrive here within 15 days of April. It will be 218,014 tonnes and 60,837,308 gallons. It will arrive here within 15 days. On 5 April, we will have 16,000 tonnes which is 4,793,920 gallons and three ships will dock within the next five days. Today, the remaining amount of fuel at Thilawa Terminals is over 41 million gallons of 92 Ron, 10 million gallons of 95 Ron, 1.7 million gallons of 97 Ron, 19 million gallons of diesel and 18 million gallons of premium diesel.” Then, U Naing Win Tun from the Petroleum Products Regulatory Department said the staff and employees of the ministries concerned led by the Chief Inspector from Petroleum Products Regulatory Department inspected the fuel carried by the tankers, fuel storage at the tankers of Terminals, distribution to fuel stations under the instructions of Supervisory Committee on Import, Storage and Distribution of Fuel Oil. Moreover, the inspectors from respective regions and states also examined whether the fuel tanks filled with fuel at Thilawa terminals arrive at the fuel stations and whether the stations sell as per the reference rate.It also permits to distribute the fuel to factories, industries and other sectors and the country has enough fuel stock. U Phyo Zaw Lwin, Manager of the Shipping Agency Department of Myanma Port Authority said, “Myanma Port Authority arranges the entry and exit of ships. There are over 30 ships every month.

At that time, we also make proper arrangements for the ships so that they can enter and exit day or night depending on the current without any delays. In March, a total of 32 ships unloaded fuel and there are five ships until 4 April. Currently, three ships are discharging fuel at the bridges. There will be eight or 10 more ships to arrive here. According to their nature, we are informed when they finish the loading processes in Singapore and Malaysia. So, there will be between 8 and 10 ships. We mostly import from Singapore now.” Officials are arranging for the entry of fuel oil tankers before and after the Thingyan period, according to the Myanmar Petroleum Trade Association.

Source: The Global New Light of Myanmar