Myanmar has reconstituted the Fuel import, Storage and Distribution Supervisory Committee, according to a statement released by the Central Committee on Ensuring Smooth Flow of Trade and Goods.

The statement says that the supervisory committee has been reconstituted with stakeholders from the relevant ministry and the private sector in order to efficiently manage the importation, storage, and distribution of fuel oil, supervise the quality of imported fuel oils and stabilize fuel prices.

The reconstituted committee is formed with the Deputy Minister for Energy as chair, the Permanent Secretary of the Ministry of Commerce, the Director-General of the Ministry of Energy, and the Director-General of the Trade Department, the Director General of the Petroleum Products Regulatory Department and the Deputy Director General of the Foreign Currency Management Department as members, the Permanent Secretary of the Ministry of Energy as secretary and the Director General of the Petroleum Products Regulatory Department as joint secretary.

The responsibilities of the reconstituted committee include taking supervisory measures for the State not to lose the revenues it deserves and stabilizing fuel prices, systematically organizing import license issuances, managing the storage and distribution of imported fuel oils, ensuring the imported fuels meet required standards, giving regular and feedback reports to the Central Committee on Ensuring Smooth Flow of Trade and Goods, making occasional inspection tours of the fuel warehouses, and keeping traceability records.