The government should grant fuel oil permits to local and foreign entrepreneurs after a shutdown of loss-making fuel filling stations, said Regional MP Hla Htay representing Mingala Taungnyunt Township in the session of Yangon region parliament on October 3.
MP Hla Htay discussed the Public Account Committee finding report over the Yangon Region Auditor-General’s audit report for 2016-2017 fiscal year.
“I would like to know information on how business owners acquired fuel filling stations and lands. Their acquisitions of fuel filling stations and lands should be at the current prices. I have heard fuel oil entrepreneurs always making losses. These loss-making businesses may tarnish the image of the country’s economic growth,” he added.
In around four months, prices for fuel oil have increased by over 17 per cent. Rising fuel oil prices are linked to the greenback appreciation and the global oil prices. Entrepreneurs suffer loss almost every day a year as they have to sell fuel oils at reduced prices, according to a press conference held by Myanmar Fuel Oil Importers and Distributors Association on September 28.
On September 27, the association fixed the fuel oil price at Ks1070.63 per liter. But the minimum fuel oil price stood at Ks1,015 per liter and the maximum price at Ks1040 per liter. Fuel oil businesses have to sell fuel oil prices at reduced prices.
