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CNI News
5 June 2024
14 accused persons who were making foreign exchange rates unstable and doing business of illegal foreign currency trading, including brokers were arrested, reported the State Administration Council (SAC) on 3rd June.
According to those arrested, 11 manipulators who were carrying out behind the scenes to make the foreign exchange rates unstable were absconding, so the SAC issued an arrest warrants on them.
Those who are running away as fugitives are Ba Nyunt from Perfect Green Money Changer, Wunna Tun from Sunflower Money Changer, Khayan Thongwa Gold Shop and illegal foreign currency sellers - Thet Naung Win, Hla Min, Utsman (b) Jack, Tin Ko Oo (b) John, Than Tun Aung, Ye Ko (b) Wai Min Khaung, Ye Min Aung and brokers - Ei Ei Kyaw (b) Ma War and Tin Kyaw Kyaw (b) Arnold.
14 people who have been arrested would be taken action against in accordance with the law and it was carrying out to arrest the fugitives, reported the SAC.
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CNI News
5 June 2024
The people within the country who were illegally selling and buying condos in foreign countries have been arrested, reported the State Administration Council (SAC) on 3rd June, 2024.
U Aung Kyaw Tun, director and U Min Thu Kyaw, general manager of Minn Thu Company that is located in Pazundaung Township, Yangon Region for illegal selling condo apartments in Thailand and transferring money through illegal hundi system.
However, because U Min Thu Kyaw ran away, the SAC has issued an arrest warrant for him.
Moreover, U Nay Myo Han, U Min Tun and Daw Myat Myat Mon who illegally bought apartments abroad that were sold by Minn Thu Company and transferred money through bank accounts illegally opened at the banks in Thailand without permission from the Central Bank of Myanmar were also arrested.
Those arrested would be effectively taken action against in accordance with the law, stated the SAC.
It would continue to investigate and identify sellers of condo apartments abroad through online and buyers to take action against them, stated the SAC.
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CNI News
4 June 2024
It would be only the Myanmar people who would decide the affairs of Myanmar, Dr. Hla Kyaw Zaw, a Myanmar political commentator, told CNI News.
Efforts to solve internal affairs from foreign countries were only for their interests and whether acceptance or not depended on the people, she added.
" Those who will decide the affairs of Myanmar are the Myanmar people. May be they talked based on their interests. Accepting or not accepting their advice depends on the public. And China is also mediating. They are taking part in solving Myanmar problems for their own good. Only the people will decide the affairs of Myanmar. We, the people have to continue our revolution. EAOs have to reconstruct pretty well in the places they have won. In this way, we have to advance gradually. The people don't seem to listen to Thakson or Hunsen." she said to CNI News.
Former Thai PM Thakson met with delegates from the Restoration Council of Shan State (RCSS/SSA), the Karen National Union (KNU), the Karenni National Progressive Party (KNPP), the Kachin Independence Army (KIA) and the National Unity Government (NUG) last month.
While seeing Chinese Deputy FM and Sr-Gen Min Aung Hlaing
Moreover, former Cambodian PM Hunsen requested to allow him to meet with Daw Aung San Suu Kyi while he was meeting and discussing with Sr-Gen Min Aung Hlaing, chairman of the State Administration Council (SAC).
However, It had been impossible to let Hunsen meet with DASSK for the time being, responded Maj-Gen Zaw Min Tun, leader of the Information Team of the SAC.
Not only was local strength needed, international participation was also needed, Saw Kyaw Nyunt, spokesperson of the 7 EAO Alliance, told CNI News.
While seeing two leaders of two EAOs
" If international community alone will have to solve the problem, it won't be practical. It is also important that domestic elements need to cooperate with heart and soul. But in the situation like this, we need qualified support from international community." he said.
Armed conflicts have been taking place in Myanmar since it gained her independence in 1948 and attempts were being made to solve armed conflict. Because of political disagreements after 1st February, 2021, battles are breaking out more widely across the country.
So, the people are suffering from economic crisis, lack of job opportunity, monetary inflation and territorial insecurity, and some EAOs, some political parties, ASEAN and international organizations are making attempts to help solve the problem.
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CNI News
4 June 2024
Brokers from nominal agencies in Malaysia are recruiting foreign workers although Malaysia has suspended recruiting workers from foreign countries including workers from Myanmar, those who are staying in Malaysia told CNI News.
Malaysia has allowed foreign workers who had been included in the demand letters to apply for visa until the end of April and they were allowed to enter Malaysia until the end of May at the latest.
So, those who wanted to come and work in Malaysia should not believe the brokers easily, those who are staying in Malaysia told CNI News.
" The Malaysian government hasn't officially announced anything anymore. But some agencies have received being hire to find jobs for foreign workers in advance. They shouldn't do so without the Malaysian government's official announcement because those who want to go to Malaysia have paid advance money, but as Malaysia hasn't officially called recruits, they will probably have to wait a long time." said a Myanmar citizen who is living in Malaysia.
While seeing a factory
So, Myanmar citizens who will go abroad to work should study facts and information and read pieces of news, suggested the people staying in Malaysia. Because the legal foreign workforce was more than needed, it was more difficult for illegal workers to get jobs, U Barbu Gyi who is helping Myanmar citizens in Malaysia, told CNI News.
" Mainly, many contracted workers from Bangladesh arrived at the airport, but the companies that had called them were not able to come and take them away. So, in my opinion, any factory won't call any foreign workers. At present, there are many employers who can't employ legal foreign workers in Malaysia." he said.
There has been an increase in the number of arrests again in Malaysia since May and many illegal Myanmar citizens were also arrested as well.
At present in Malaysia, arrests are being made in even places where no arrests were made before, according to the people staying in Malaysia.
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CNI News
4 June 2024
It was necessary to make dollars enter the country more so that monetary inflation, higher price of dollar and scarcity of dollars could be resolved, pointed out businessmen and analysts.
The reason why Myanmar Kyat is devaluing is because it is hard to buy dollars within the country and the government is carrying out to restrict and control the dollar market.
So, to make the value of Myanmar Kyat rise again, it was necessary to encourage Myanmar migrant workers abroad to officially transfer their foreign currencies to the country.
Moreover, it was also necessary to encourage exporters without controlling export earning policy and to raise the exchange rate for the foreign currencies to be transferred by the migrant workers, said an anonymous economic analyst.
While seeing Myanmar Kyat and US dollar
" If you look at it from an economic point of view, you need to make more supply of dollars. So, we need to encourage exporters. 35 percent of their export earning should not be exchanged at the rate of 2,100 kyats per dollar by force. Dollars sent by Myanmar workers abroad are exchanged at 3,300 Kyats per dollar. But the market price of dollar has been almost 5,000 kyats per dollar. Any workers won't transfer money to Myanmar. They will send money by hundi and Myanmar Kyat only will be received. Limitation of the price of dollar must be lifted, but the bad point is that the price of dollar will go up a bit and at the same time, the dollar supply will be higher. There are also other effects such that roads and bridges are damaged on the border trade route and a lot of money have to be paid to checkpoints on the way. But controlling the dollar market is wrong. Only if the policy can be changed, will it be convenient." he said.
Because of devaluation of Myanmar Kyat, prices are getting higher and the basic class is facing crises while the prices of gold and dollar are skyrocketing. Although gold shop owners and gold entrepreneurs had been arrested and taken action against to control gold and money price volatility, it wouldn't be effective mainly because new bank notes were being printed, Ko Nay Khant, a gold market analyst, told CNI News.
While seeing a 1,000 kyat note
" We must say it's not effective. The price of Myanmar Kyat is directly proportional to that of gold. On the other hand, new bank notes are ceaselessly being printed. As long as new bank notes are being printed, consider the fluctuations in gold prices as a speculation. It won't be convenient if new bank notes are being printed." he said.
Depreciation of the Myanmar Kyat and monetary inflation continue to occur due to wrong economic policy after 2021 that began the political change.
The inflation rate has already reached until 35 percent, according to economic analysts.
Decline in domestic production, lack of foreign investment and decline in border trade due to difficult transport are occurring because of political changes.
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CNI News
3 June 2024
While the State Administration Council (SAC) was planning to arrest and take action against ten people including owners of Weint Sein, Aung Thamardi and Zwe Htet gold shops for making the price of gold unstable, because they had run away, the SAC issued arrest warrants on them on 2nd June, 2024.
A total of 21 suspects who was carrying out to make the price of gold unstable had been identified and arrested and were being inspected, stated the SAC.
According to their testimony, those who were carrying out to make the price of gold unstable behind the scene are U Aung San Win, owner of Aung Thamardi gold shop, U Aung Kaung Myat, owner of Weint Sein gold shop, U San Win, owner of Zwe Htet gold shop, U Myo Thu Win from Academy Gold Refinery Industry, U Thet Naung Win from Khayan Thongwa gold shop, U Kyaw Nyein from Sein Kyaw Moe gold shop, U Aye Kyaw from Shwe Zin Win Gold Refinery Industry and brokers, U Kyaw Win (b) Panthee, U Nyi Nyi Oo (b) Chekkyi and Daw Tin Tin Khine (b) Daw Sanda Tin and they all have been on the run.
So, authorities are performing to take action against them in accordance with the law.
Those who knew where the fugitives were staying could secretly inform the security organizations concerned, stated the SAC.
Moreover 21 people who had been arrested would be taken action against in accordance with the law, said in the statement.
The price of pure gold was 57 lakh kyats per tical a few days ago and now is just over 50 lakh Kyats.
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CNI News
2 June 2024
India conferred the International Award for Promotion of Buddhism on State Ovadacariya Sangha Raja of Shwekyin Nikaya Buddhist Order Abhidhaja Maha Rattha Guru
Sitagu Sayadaw Dr Baddanta Nyanissara on 31st May, 2024.
The awarding ceremony was held at the Indian Center on Shwe Bon Tha Street, Pabedan Township, Yangon.
The ceremony was attended by Sitagu Sayadaw Dr.Baddanta Ashin Nyanissara, Sagaing Region International Buddhist Education Center Abbot U Sawbita, Rakhine State Alodawpyae Vipassana Meditation Center Abbot U Pannya Jota and monks.
Moreover, Information Minister U Maung Maung Ohn, Minister for Religion and Culture U Tin Oo Lwin, Chief Minister of Yangon Region U Soe Thein, Yangon Mayor U Bo Htay, Indian Ambassador to Myanmar H.E. Mr Abjay Thaku, Director General of the Indian Council for Cultural Relations(ICCR) H.E. Mr. Kumar Tuhin, Chairperson of the U Nu-Daw Mya Yi Foundation Daw Than Than Nu and Chairman of the Union Solidarity and Development Party (USDP) U Khin Yi attended the ceremony as well.
The ICCR has conferred the International Award for Promotion of Buddhism on foreigners, individuals and organizations since 2021.
Otani University(Japan), Dr.Duong Thi Thanh Huong(Vietnum) and Mr.Choijamts Demberel(Mongolia) had been conferred this award.
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CNI News
2 June 2024
The Shan State Progressive Party (SSPP/SSA) stated on 31st May, 2024 that the Ta'ang National Liberation Army (TNLA/PSLF) had no desire to co-exist.
In the current situation which could quickly change politically and militarily, they wouldn't change their political position and as the first priority, they have maintained the policy solving the political problem with the political means, said in the statement by the SSPP.
Because of the actions of some allies, not only making the public get the SSPP/SSA wrong, the incidents which could hurt its political prestige and its co-exsistence policy were ceaselessly taking place, said the SSPP.
" There is tension between the TNLA and the SSPP due to territorial dispute. Regarding the dispute, top delegates from the two groups met and discussed on 21st April. Although the SSPP had ordered its forces to comply with the discussion results, according to Lwe Ye Oo, spokesperson of the TNLA to news media, the TNLA obviously has no desire to co-exist." stated the SSPP.
While seeing the SSPP's statement
There are territorial disputes in Namkham township and administrative disputes as well and a military tension between the TNLA and the SSPP. The TNLA sent the SSPP troops to Muse Township by force on 26th and 27th May, 2024.
" We took SSPP troops of our ally to their original movement camp in Muse Township by car on 26th and 27th May. This matter has been conveniently settled. The decision made at the meetings held several times was implemented." said Lwe Ye Oo, In Charge of News and Information of the TNLA to CNI News.
The TNLA had a desire to take political advantage without alliance ethics and the racial discrimination and any act of behavior beyond tolerance was nothing short of inviting solution by military means. So, the SSPP has totally objected and condemned the TNLA, stated the SSPP.
The SSPP and the TNLA are allies and also members of the Federal Political Negotiation and Consultative Committee.
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CNI News
1 June 2024
Economic experts should be appointed as officials to lead economic departments such as committees and commissions relating to investment, trade, finance and flow of goods, pointed out businessmen and economic analysts.
Those who not skilled in business and economy are not appointed to lead economic industries in Singapore, Malaysia, South Korea, ASEAN and other Asian countries so that economic decisions will be correct, they pointed out.
The people who are not businessmen and economists are participating in the economic sector of Myanmar and but, it depends on their consult ability, U Htay Aung Kyi, a banking expert told CNI News.
" How much economic officials know technically? How much can they consult with technical experts? It is important. Those who are not experts in business and economy are not appointed in all the economic agencies in Malaysia, Singapore, Thailand and South Korea so that correct decisions can be made. The C in C of the defense services is not an economist. But it depends on his consultancy with economists." he said.
While seeing Lt-Gen Nyo Saw and Sr-Gen Min Aung Hlaing
At present, the State Administration Council has appointed Lt-Gen Nyo Saw as the chairman of the Foreign Exchange Supervisory Committee (FESC). Moreover, General Mya Tun Oo has been appointed as the chairman of the Central Committee on Ensuring Smooth Flow of Trade and Goods and the chairman of the Myanmar Investment Commission.
Although economic experts should take responsibility in economic sector, military experts took responsibility in the sector under the military government led by U Than Shwe and the country enjoyed the trade surplus. Whether economic or military experts took responsibility in the economic sector, it mainly depends on the economic policy that was applied.
While military officials were taking advice from economists, it would be convenient only if the policy supported the economy, an anonymous economic commentator told CNI News.
" If you had export income, you would have to import goods under the military government led by U Than Shwe. It was convenient for importers and exporters got good prices. In the past, military officials took responsibility and at present military officials take responsibility, too. But as the policy is different from each other, the situations have been different. The current military tried to win the trade surplus, but the situation is getting worse. Officials from the military might not understand the economic policy. They have to take some advice from economists. If they do so, the policy, it will be a balanced policy with the economy. Otherwise, it won't be convenient." he said.
While seeing a grocery store
Currently, Myanmar's economic sector is declining and because of difficult transport, controlling foreign currencies, limiting import and export licenses, trade is decreasing; foreign investments are also leaving and the investments re-entering are also very low reportedly.
Moreover, Because of devaluation of Myanmar Kyat, the prices are higher within the country.
It was mainly necessary to relax the centralization system so that the economy would recover and the value of Myanmar kyat would increase. Moreover, the government should relax the export earning policy and carry out to export more, pointed out economic analysts.
It was necessary to raise the exchange rate so that the income of expatriate migrant workers would officially enter the country, they pointed out.