Arrangements have been made for the free import of fuel oil, and new companies that want to import fuel oil will be properly screened, said Union Minister General Mya Tun Oo, Chairman of the Central Committee on Ensuring Smooth Flow of Trade and Goods at the (1/2024) business coordination meeting of the Central Committee on Ensuring Smooth Flow of Trade and Goods held at Office No. 18 meeting hall in Nay Pyi Taw on February 7.

The Central Committee on Ensuring Smooth Flow of Trade and Goods carried out the fuel sector as a priority import which is essential for conducting the trade, transportation, agriculture, livestock breeding, social, health, business and general services. We are constantly working to ensure that people can buy used fuel oil at a lower price. Arrangements are being made to freely import fuel oil needed for private industrial sector, agriculture sector, service activities, hospitals, clinics, schools and hotel businesses, government tenders and other businesses, and new companies that want to import fuel oil will be properly vetted, the Union Minister said.

Vigilance is being carried out to ensure that the public can use fuel adequately and that no illegal fuel is sold. In December 2023, authorities cracked down 65 cases of illegal fuel sales in the regions and states and confiscated 298.057 tons of fuel oil estimated value of 738.392 million kyats and in January 2024, 74.225 tons of fuel estimated value of 176.429 million kyats from 14 cases had been confiscated, he said.

We are developing a software application that will be able to view and check to spot the filling stations within 30 miles from where they are, when people travel, and for the departments that will monitor the remaining conditions of the type of petrol at the petrol station and the selling prices. Since February, the pilot project has been implemented in 107 petrol stations in the Nay Pyi Taw council area, he said.

He coordinated with relevant departments and traders for issues related on fuel, difficulties in importing raw materials, and to import equipment for the regular operation of factories and spare parts. Due to the efforts of the remaining companies to re-enter the export earnings after exporting abroad, the export earnings were earned more than in the same period, he added.

In order for the exporters to be able to work more efficiently and gain profits and to export more foreign products, the government has gradually reduced the amount of export earnings from exports 35:65 percent instead of 50:50 percent for the exporters. In order to increase foreign exports and increase rubber export activities, the import of fertilizers and pesticides was allowed to be carried out with the export revenue obtained from rubber exports during the seasonal period from December 1, 2023 to March 31, 2024, he said.

In addition, in order to increase exports of agricultural products such as rice, broken rice, beans and pulses and maize, the importation of fuel oil and cooking oil using the export revenue obtained from the export of rice, broken rice, beans and pulses and maize. In carrying out domestic and foreign trade activities, the interests of the public must be taken into consideration, and the Central Committee members and officials to work together not to delay in trade activities, to make the flow of trade and goods correctly and quickly, and to increase the export sector, he said.

The committee members and special guests attended the meeting.