NAYPYITAW-The Union Parliament has approved of Transport and Communications Ministry bid to take a 80 million Yuan (USD 11.6 million) interest-free loan for the purchase of 28 railway carriages---14 ordinary and 14 first class.

The information came from the 6th day of Second Union Parliament’s regular meeting held in Nay Pyi Taw, yesterday.

At the meeting, the Union Minister of Transport and Communications and the Deputy Minister of Planning and Finance explained about their loan proposal and with Union parliament approving it subsequently.

The Ministry of Transport and Communications had submitted the matter of seeking loans from China without interest to buy railway carriages to Union Parliament for approval.

Union Minister Thant Sin Maung submitted the matter seeking a loan of 80 million Yuan during a meeting of Union Parliament held in Nay Pyi Taw on November 12th.

Myanma Railways (MR) Strategy-2018 compiled in cooperation with Asian Development Bank has reviewed that Myanmar should buy 60 locomotives, 500 passenger carriages and 800 cargo carriages before 2027.

After series of coordination with the Chinese commercial attache’s office, MR has planned to buy 28 passenger carriages—14 for upper classes and 14 for ordinary class-------in accord with the MR specifications. The loan period is 20 years.

According to the Ministry of Transport and Communications, more than 1,000 commuters use the route daily with one carriage earning as much as 3 million kyats a day.