57 state owned enterprises to be sold off

by Mizzima News
Friday, 07 August 2009 23:28

Chiang Mai (Mizzima) – The Ministry of National Planning and Economic Development in Naypyitaw will auction off 57 state owned enterprises on the 22nd of this month.

The auction will be held at the Project Scrutiny and Progress Report Department under the Ministry of National Planning and Economic Development. The application form will be available from the National Archive Department on Rangoon’s Pyidaungsu Avenue from next Wednesday onwards.

“Only ethnic nationalities are eligible for this auction. We will give the terms and conditions for this auction along with the sale of application forms on the 12th of this month,” related a female officer on duty at the Planning and Progress Report Department inside Office Building No. 32 in Naypyitaw.

When asked of the reason for selling off the enterprises, the officer replied, “We are not authorized to answer this question. We don’t know about the financial status of these enterprises, and whether they are operating in the black or red. We are doing this as per instructions given to us.”

According to yesterday’s New Light of Myanmar, the list includes in part 30 enterprises under the Ministry of Industry located in Mawlamyine – including an ice mill, blanket mill, packing paper mill, soap factory, biscuit factory, soya bean sauce factory, vinegar factory and marble factory – along with 15 enterprises under the Ministry of Economic and Commerce.