Government is planning to sell K1,000 lottery tickets with a grand prize of K1.5 billion in next February, said Director General Min Htut of Internal Revenue Department under Ministry of National Planning and Finance on October 4.
“We are expecting to sell the new lottery tickets starting from February. It will increase government income. At the same time, it will commensurately reduce market price of lottery tickets which public is pointed out,” said the director general.
The ticket price will be increased and it is the same with prizes. The department will increase the number of prizes in line with the instruction of the government.
“The highest prize will be K1.5 billion and the rest will be smaller prizes. In doing so, it will increase the public interest as the potential to win the lucky numbers is higher. It makes people happy whether the prize is big or small. The prizes will be double in K1,000 lottery tickets,” he said.
The department earned the maximum of about K40 billion from the sale of K200 lottery tickets and it is increased to about K100 billion in K500 lottery tickets, he said.
The price of K100 lottery tickets is K200 in the market. When the government sold its K200 lottery tickets, it sold with K350 in the market. The price of K500 lottery tickets is K650 or sometimes K700 in the market. If the department sell K1,000 lottery tickets, it can decrease the market price, he said.
Moreover the department is planning to sell K4,000 per lottery ticket in the future in compared with lottery prices in ASEAN countries, he added.
