Junta’s trade restrictions may result in product shortages

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Nay Pyi Taw, March (31)

Businessmen worry that there may soon be a shortage of commodities because the military council hasn't been capable of developing the local Micro, Small and Medium Enterprises (MSMEs) and has placed stringent restrictions on the import of goods.

Vice – Senior General Soe Win, the second military leader, remarked at the coordination meeting of the Anti-Illegal Trade Steering Committee held on March 29 that illegal trade hinders the development of MSMEs.

He ordered to strictly check and prevent duty-free imported goods and take effective action in accordance with the law in order to develop local MSMEs.

On the other hand, the military council is strictly checking whether the imported goods are legal or not in the border trade zones, and if illegal goods are found, they are confiscating them and imposing fines.

A businessman criticized that when even a small type of product cannot be produced domestically, the military council is also preventing the flow of goods into the country, so there may be a shortage of commodities.

He added, "As entrepreneurs, instead of importing goods from other countries, they should try to produce some necessary goods in our own country. And we should focus on the domestic market rather than the foreign market".

The military council, which is unable to supply electricity timely, is constantly urging every region to produce at least one product and to develop micro, small and medium-sized enterprises (MSMEs).

An MSME entrepreneur told Than Lwin Times that he has been facing high general costs,business delays, and losses due to frequent power outages.

Most MSMEs rely on huge generators to run because there isn't a regular electricity supply.

Most businesses are limiting their workload, and others have suspended operations entirely.

The World Bank reported on January 30 that Myanmar's ongoing conflict, severe power outages, and policy changes continue to have a negative impact on Myanmar's economy, with GDP per capita falling 13 percent below pre-pandemic levels.

News-Than Lwin Times

Photo – Phoe Khwar

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