Yangon govt ‘invests’ Ks70bn in YBS

Yangon Bus Public Company Ltd (YBPC) has deposited Ks70 billion at the Ayeyarwady Bank for the Yangon Bus Service (YBS), according to Myint Thaung, the regional minister for planning and finance.

Replying to the question raised by Sandar Min, an MP representing Seikgyi Khanaungto constituency no.1, about investment, profit-sharing and the business plan for the YBS, Myint Thaung said the regional government allocated an additional budget of Ks70 billion in the 2016-17 fiscal year. The YBPC would manage this budget.

The regional government formed the vehicle purchasing committee to import 500 to 1,000 new vehicles, the minister said.

Under the arrangement of the Chinese embassy, the regional government has signed a deal with Anhui Ankai Automobiles from Anhui Province and Henan Yutong Electric Motors in Hainan Province to import 1,000 buses.

The cost, insurance and freight charges are around US$56,000 per vehicle, the minister told the regional parliament.

Source: Eleven Myanmar

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