Parking fees will be introduced in Yangon starting November 1, according to the Yangon Region Government.

Under the new system, parking fees will be charged daily from 8 am. to 6 pm. at a rate of K500 per hour. An additional K300 will be charged for parking beyond the allotted time by up to 30 minutes, while an extension of up to 60 minutes will incur an additional fee of K500.

The fee collection system will cover the area between Strand Road and Bogyoke Aung San Road, and between Yazadarit Road and Aung Yadana Road. The designated area will be divided into eight zones.

The parking fee collection service will be operated through a tender system, with tenders invited through newspaper advertisements, according to the report.