Myanmar to change practice of new fiscal year period

Source: Xinhua| 2017-10-31 19:15:01|Editor: liuxin
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NAY PYI TAW, Oct. 31 (Xinhua) -- The Myanmar government will change the practice of fiscal year period from Oct. 1 to Sept. 30 instead of from April 1 to March 31 previously starting from the next fiscal year 2018-19, parliament speaker U Mann Win Khaing Than said Tuesday.

The president's notification message on the move was kept as an agreed minute by the parliament under the constitution law after being debated by 16 members of parliament.

The reason of changing the fiscal year period is aimed at building necessary infrastructures and carrying out purchase work with momentum, making use of the consecutive longest period during the open season for the development of the country's socio-economy, the clarifications made by central government organizations were quoted as saying.

Myanmar's sixth parliamentary sessions of both houses were resumed in Nay Pyi Taw on Oct. 18, focusing on financial issues and policy.

The current parliament was formed through the general election in November 2015 and dominated by election-winning National League for Democracy party.