Myanmar to liberalize fuel import leads to Uprising in September 2007

Saturday, January 19, 2008
BDD

“Myanmar is deliberating on liberalizing the import of fuel by allowing the private sector to undertake the business in a bid to increase production, the local weekly Myanmar Times reported in this week's issue.

Private business organizations are set to seek fuel import through the Trade Council, the country's highest authority in charge of export and import trading businesses, the report said, quoting the Export and Import Supervisory Committee.

Under the existing procedure, only government affiliated organizations and private companies, including the Union of Myanmar Economic Holding Ltd and Htoo Trading Company, may import fuel directly,

The move will signify the first ever allowance for the private sector to import fuel.

Myanmar mainly imports diesel from Malaysia, Thailand and Singapore, heavily draining on the country's foreign currency reserve, according to the report.” Xinhua said on 18 Jan 2008.

This Htoo Trading Company which believed to be partly own by Than Shwe’s family and they paved the way of fuel price hike for their own profit in August 2007. This let a major challenge against the government in August and September 2007.

The Union of Myanmar Economic Holding Ltd, which is also government and generals’ joint venture and profiting is always pocketing to the generals.