Inflation-hit national economy needs control ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ®®®®®®®®®®®®®®®®®®®®®®®®®® Nay Pyi Taw, 19 June The Upper and Lower Houses continued their sessions on Thursday here, with queries being raised and responded and proposals being submitted and accepted, sources said. In the session of the Upper House, a proposal that the union government should lay down a policy to curb inflation came under discussion. Parliamentarians pointed out that the country’s economy is now faced with an inflationary spiral of wage and price increases, with people suffering from the domino effects of price rises, resulting from the demand out of proportion with the supply due to soaring production costs. They blamed the inflation on high government expenditures, banks’ low interest rates and unconventional investments, calling for a sustainable monetary policy to control inflation. In a response to the proposal, an official of the Central Bank of Myanmar explained government’s efforts to bring inflation under control in details. At the session of the Lower House, a proposal was rejected of branches of the Supreme Court of the Union to be opened for court clients to save travel expenses because they have to come to the capital city to stand trial. In a response, the chief justice of the Union said it is apposite for the Supreme Court, as the highest court, to be located at the capital city of the country. ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄ ®®®®®®®®®®®®®®®®®®®®®®®®®®®®®®®®®®
Posted on: Fri, 20 Jun 2014 05:20:57 +0000
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