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Inflation going up in Burma
Tue 28 Mar 2006,
Banyol Kin, IMNA
Prices of gasoline and essential supplies are increasing by the day because Burma is in the grip of inflation.
“In this country prices of everything are going up because of inflation,” said a gasoline shop owner in Moulmein , (Mawlamyine). Earlier gasoline was 3,000 kyats per gallon. On March 12 it went up to 3,800 kyats per gallon. In rural areas gasoline price is more than 4,000 kyats. Diesel price in the capital Rangoon has shot up by about 200 Kyat and is 3,400 Kyat per gallon now.
Activists claim that the government has no idea of economic management and does not provide equal opportunities. Just the Burmese military regime families can do business freely.
“They don't think about ways to bring down the market price. They have just increased the salaries of those in government service. For this they are issuing more money causing inflation,” said Nyo Ohn Myint Foreign Minister of National League for Democracy in exile.
If the political crisis had ended, investors would surely come to invest. Investors are also concerned about the political situation in the country. They have to take into consideration whether the political situation is stable enough for their benefit, he added.
“It is clear that the Burmese military regime is not able to solve political and economic problems in the country. They cannot create new economic marketing to develop people's living standards”, said Nyo Ohn Myint.
The Burmese government announced substitution of diesel run machines to gas operated machines but not many vehicle owners made the switch. To overcome the gasoline problem the Burmese military government had planned to grow castor oil plants country wide to produce bio oil. But local businessmen said it was not suitable in the current situation.
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