The increase in electricity tariffs has created a good manufacturing environment with strong energy guarantees for entrepreneurs, said Union Minister for Electric Power U Nyan Tun in a meeting with government officials from regions and states and industrialists regarding the plans to produce and distribute electricity from LNG at the Ministry of Electric Power Office No. (27) Ye Ywar Hall in Nay Pyi Taw on February 6.

The Union Minister said that the government is making efforts in all sectors to rapidly develop the country’s economic sector, and that strong policies are being implemented at a rapid pace to encourage and promote agro-based industries in accordance with the natural conditions of our country.

Since the main infrastructure required for the full operation of such manufacturing industries is electricity, our ministry is focusing on generating electricity from various energy sources to fully produce the required electricity. We are making every effort in all possible ways, and are carrying out timely repairs to damaged power lines and substations. Although electricity generation from LNG is expensive, efforts have been made to generate electricity from LNG, which will be available in a short time, in order to meet the demand and improve productivity in industrial zones, the Union Minister said.

In addition, in order to balance the cost of electricity production from LNG, an “economic rate” has been set for industries and businesses, and the new electricity rate will be charged at 900 kyats per unit starting from February, so the staff using manual meter reading and consumers need to sign an agreement for the units used in January.

Although the electricity rate has been increased, it has created a good manufacturing environment with a strong energy guarantee for entrepreneurs, so businessmen will be able to successfully expand their businesses. The electricity rates used by the public have not changed from the previous rate. He urged industrialists to work together for the economic development of the country, as the public will be able to use more of the electricity that was previously used in industries.

Then, the Director General and the Managing Directors presented explanations by relevant industry sectors, and the Ministers for Natural Resources of the Regions and States, officials from industrial zones, and businessmen discussed the conditions for charging electricity to industries and businesses at the new rate, the advantages and disadvantages of the increase in electricity rates, and the difficulties that have arisen.

The Union Minister coordinated and fulfilled the necessary requirements based on these presentations.

The meeting was attended by the Deputy Minister for Electric Power U Aye Kyaw, Ministers for Natural Resources of the Regions and States, Acting Chairman of Mandalay Electricity Supply Corporation, Directors General and Managing Directors of the Union Minister’s Office, Departments, and Enterprises, Chief Executive Officer of Yangon Electricity Supply Corporation, Heads of Departments, Regions and States Electrical Engineers, Industrialists and businessmen.