Myanmar’s military regime government has set in motion a major reform of the country’s economy. It has put on block several assets that were taken over after the 1962 coup.
Senior Gen. Than Shwe is credited with the sell-off plan aimed at building a cash reserve for undertaking populist measures ahead of the parliamentary election slated for later this year.
On offer are gem and tin mines, petroleum import and distribution facilities, factories (cycles, cigarettes and soft drinks), farm lands, ports, 100 colonial era government buildings and a big stake in the national airline. Health care and education sectors are also opened to private enterprise, according to U Phone Win, the head of a non-profit organization.
Media reports say the privatisation is being carried out mostly by ‘word of mouth’. It is benefiting small groups of businessmen allied with the military.
The Privatisation Commission has published a list of 176 assets in Yangon to be auctioned off. The list features many government buildings located in picturesque surroundings. These are lying vacant ever since the capital was moved to Naypyidaw in 2005.
In recent weeks, the regime has lifted ban on motor cycle imports and made cars affordable a wee bit. The sale of tens of thousands cars that were seized on charge of importing illegally pushed car prices southwards.
Even after a new Parliament is elected, the military will control the levers of power. 25 percent of seats are reserved for the military and the statute with the junta stamp can be amended only with more than three –fourth vote.
