Tuesday, May 8, 2012

Burma moving toward unregulated purchase of vehicles: minister

Tuesday, 08 May 2012 13:36 Mizzima News

(Mizzima) – Burmese citizens with foreign exchange accounts can now import passenger cars in models of 2007 and above, according to domestic media.

Downtown traffic in Rangoon, where the authorities are trying to replace decades-old vehicles with newer models. Photo: Mizzima

The accounts must be in the state-run Myanmar Foreign Trade Bank (MFTB) or the Myanmar Investment and Commercial Bank (MICB), the Car Import Supervisory Committee told the New Light of Myanmar, a state-run newspaper.

Minister of Commerce U Win Myint, who head’s the project, said Burma is taking step-by-step measures to enable the public to buy cars freely from car showrooms or by importing vehicles.

Since September 2011, Burma has implemented a program to substitute private-owned vehicles more than four decades old with new ones. About 55,000 cars have been replaced in the program.

Permits are being issued to old-vehicle owners to purchase newer models not earlier than 1995 upon surrender of their older cars.

According to the Department of Road Transport Administration, there are 2.3 million registered motor vehicles in Burma of which 279,066 are passenger cars; 64,888 are trucks; 20,944 are buses; 1.9 million are motorcycles; are 59,665 are unidentified.

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