A prominent Burmese economist has denied accusations that he recommended doubling fuel prices to cover higher budget expenditures by the military government.
In a letter to foreign media, U Myint, a member of the advisory group to the Union of Myanmar Federation of Chambers of Commerce and Industry, wrote, “The Central Executive Committee of the UMFCCI and its academic advisory group in which I have the privilege of serving as a member have never presented a formal proposal to the authorities that energy prices should be doubled."
In the letter obtained by The Irrawaddy, U Myint said the paper was originally prepared by a UMFCCI research team and distributed to the advisory group in a meeting on April 4, 2006, asking for a review and comments. The advisory group is composed of ten academics.
Regarding allegations that the group recommended doubling fuel prices, the letter said, “Strongest reservations on this matter were raised by me and my colleague, Professor Dr Tin Soe.”
U Myint said that no report of the meeting was made, but their views and objections to the proposed fuel price increase are documented because the proceedings were recorded digitally.
The leaked document didn’t include the title page of the research team’s paper which indicated its authorship, the economist said.
U Myint said he disagreed with an argument that Burmese energy prices were much less than such prices in neighboring countries and there was a need for an increase to bring them in line with the realities of the world market.
It is true Burmese fuel prices were lower, he said, "but it is also true that incomes in Myanmar are among the lowest in the region.
A report by the International Monetary Fund issued in September 2006 estimated that per capita GDP in Burma in 2005 was US $170, less than half of that in Cambodia for the same year. The figure was $400 in Laos and $440 in Bangladesh, said U Myint.
In a letter to foreign media, U Myint, a member of the advisory group to the Union of Myanmar Federation of Chambers of Commerce and Industry, wrote, “The Central Executive Committee of the UMFCCI and its academic advisory group in which I have the privilege of serving as a member have never presented a formal proposal to the authorities that energy prices should be doubled."
In the letter obtained by The Irrawaddy, U Myint said the paper was originally prepared by a UMFCCI research team and distributed to the advisory group in a meeting on April 4, 2006, asking for a review and comments. The advisory group is composed of ten academics.
Regarding allegations that the group recommended doubling fuel prices, the letter said, “Strongest reservations on this matter were raised by me and my colleague, Professor Dr Tin Soe.”
U Myint said that no report of the meeting was made, but their views and objections to the proposed fuel price increase are documented because the proceedings were recorded digitally.
The leaked document didn’t include the title page of the research team’s paper which indicated its authorship, the economist said.
U Myint said he disagreed with an argument that Burmese energy prices were much less than such prices in neighboring countries and there was a need for an increase to bring them in line with the realities of the world market.
It is true Burmese fuel prices were lower, he said, "but it is also true that incomes in Myanmar are among the lowest in the region.
A report by the International Monetary Fund issued in September 2006 estimated that per capita GDP in Burma in 2005 was US $170, less than half of that in Cambodia for the same year. The figure was $400 in Laos and $440 in Bangladesh, said U Myint.
