Ten of 32 state-owned enterprises to make losses this fiscal year

Writer: 
Phyo Wai
Photo shows the news articles carried in state-run newspapers published by Information Ministry that attract public criticism over Aung Yell Htwe murder

Ten out of 32 state-owned economic organisations, including News and Periodicals Enterprise set to lose over K1 billion, will make losses this fiscal year, according to the Ministry of Planning and Finance.

According to the estimated budget for 2018-2019 FY and trade data, there are 26 state-owned businesses operating with union budget. Among them, 16 will be making profits this year. Meanwhile, there are six state-owned enterprises running outside the union budget, and five are set to make profits.

The 26 state-owned enterprises running with the union budget are under the control six ministries. News and Periodicals Enterprise under the Information Ministry is due to make a loss of K1,157 million.

Of the five economic organisations under the Ministry of Transport and Communications, Inland Water Transport is set to lose K9,000 million, Road Transport K1,396 million, Myanma Railways K97,923 million and Myanmar Postal Service K4,110 million. Only Myanmar Post and Telecommunications will earn over K98,144 million in profit.

The Ministry of Natural Resources and Environmental Conservation with five enterprises is due to make a profit of K333,546 million this FY.

For the Ministry of Electricity and Energy, only Electric Power Enterprise will make a loss of K629,963 million and the remaining four enterprises are set to make profits. Moreover, the six state-run enterprises under the Ministry of Planning and Finance are due to make a profit of K192,515 million.

For the Ministry of Industry, Myanma Pharmaceutical Industries will make a profit of K3,783 million while Nos. (1), (2) and (3) Heavy Industries Enterprises are due to lose K82,492 million.

Of the state-owned economic organisations operating outside the union budget, Myanma Port Authority and Myanma Shipyard Enterprise are making profits. Myanmar National Airlines and Central Bank of Myanmar will earn K2,941 million and K564,578 million respectively in profit.

Yangon Electricity Supply Corporation and Mandalay Electricity Supply Corporation are due to make a total profit of K54,762 million.