December 22
The Ministry of Planning and Finance provided K1.773 billion of loans to 21 cooking oil millers in regions and states, including the Nay Pyi Taw Council area, between July and October 2023.
The ministry called for a loan proposal for the first time in line with rules and regulations of the Project Management Unit and Private Finance Initiative and made loan disbursement, according to a meeting 5/2023 of the Development Loan Management Task Force for Oil Mills.
Second proposals have been invited. Applicants are under scrutiny. The meeting highlighted the need to finance millers who meet loan criteria shortly.
The State is endeavouring to ramp up oil crop outputs to ensure edible oil security in the domestic market and disbursing loans at reasonable interest rates for oil millers to upgrade milling machines. — TWA/KK
