The Directorate of Industrial Supervision and Inspection (DISI) will disburse loans to oil millers to effectuate the development of the milling industry.
This move is to secure local consumption, reduce the imports of edible oil from foreign markets, improve the efficiency of machines to boost the production of quality edible oil and put capital into setting up new machines. Myanmar citizen private entrepreneurs are entitled to this loan.
Those interested can download the loan proposal form through the official website of the DISI https://msmewebportal.gov.mm/latest-news/185 and the Ministry of Agriculture, Livestock and Irrigation https:// www.moali.gov.mm/my/tender/2022-11-25t1011090630. The millers can send the proposal form and necessary documents in a sealed envelope to the office of DISI’s loan management task force (addressing to the Director General) located at No.37, the Ministry of Industry in person or by mail by 27 December. They can make enquiries about it through the contact number 067-3408378 or the email address disidgof[email protected].
According to the SAC directive 118/2022, a loan management task force for oil mill development was formed to achieve the above mentioned goals.
The tasks of the task force is requesting funds to pay out necessary loans for the millers to enhance the efficiency of the machines, screening and giving approval, and setting loan criteria (amount, interest and loan terms) according to the agreement of the ministries concerned, building risk management frameworks and setting parameters, loan monitoring and evaluating the performance of the miller and compiling the reports of the performance of the task force.
The deputy minister for Planning and Finance will act as chairman of the task force and the officials of the Ministry of Investment and Foreign Economic Relations, the Ministry of Agriculture, Livestock and Irrigation, the Ministry of Cooperatives and Rural Development, the Ministry of Industry, the Ministry of Commerce, the Ministry of Planning and Finance, the Budget Department, Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, Myanmar Banks Association and Myanmar Oil Millers Association will join it as members of the task force. The managing director of the Myanmar Agricultural Development Bank will serve as the secretary and the managing director of the Myanma Economic Bank will act as joint secretary, according to the SAC’s directive.— NN/GNLM