A meeting of the Finance Commission meeting was held yesterday morning at the Presidential Palace. The meeting was attended by State Counsellor Daw Aung San Suu Kyi, Finance Commission Vice-Chairman Vice-President U Henry Van Thio, secretary Union Minister U Kyaw Win, members Union Attorney General, Union Auditor General, Nay Pyi Taw Council Chairman, states and regions Chief Ministers. “The present 1/2018 meeting of the Finance Commission is to discuss and adopt the Budget Estimate for 2018 April to September of the Union and Bill on 2018 Budget of the Union”, the President said Section 221 of 2008 Constitution requires that the Union Government draft a Union Budget Bill based on the annual Union budget, after coordinating with the Financial Commission, and submit it for approval to the Pyidaungsu Hluttaw. As per this section, the Financial Commission is to support the Budget Estimate for 2018 April to September of the Union submitted by the Government to the Pyidaungsu Hluttaw. The fiscal year in Myanmar was originally designated to be from 1 April to 31 March, but for fiscal year 2018-2019, it will be changed to 1 October to 30 September. That is why the budget estimate of departments and organisations for the six-month transition period of 1 April to 30 September 2018 is now being drawn up separately.
President's Office Facebook (9 January 2018)