MIFER ex-Union minister U Thaung Tun charged under Anti-Corruption Law

  • Tue, 23 November 2021

            The Anti-Corruption Commission (ACC) formed an inspection team to examine the activities of former Union minister U Thaung Tun of the Ministry of Investment and Foreign Economic Relations under the Anti-Corruption Law. 

      According to the inspection, ex-chair[1]man of the Myanmar Investment Com[1]mission U Thaung Tun leased 9.22 acres of land on upper Pazundaung Road in Mingala Taungnyunt Township owned by the Consumers Affairs Department of the Ministry of Commerce during his service term to a private company for 30 years. In such doing, he did not follow notification No 39/2011 (on the right to use land relating to the Republic of the Union of Myanmar, Foreign Investment Law) and President Office Directive 3/2018, paragraph 2, subparagraph (g) the rental fee of state-owned land and buildings must fix according to the current prices of the location, and tender procedures of the President Office Directive 1/2017. Although the price of land of the Con[1]sumer Affairs Department in Yangon is between $10 and $15 per square metre, he let the company pay only more than $0.24 million per year at $6.5 per square metre. It caused a loss of more than $0.13 million per year. While he was serving duties, the min[1]imum land use premium fee in Yangon was $1 million per acre for the company. But, in leasing 9.22 acres of land of the Ministry of Commerce to a private com[1]pany, they had to pay only more than 0.24 million of land use premium fee instead of $9.22 million, and it also caused a loss of more than $7.9 million. Therefore, ex-Union minister U Thaung Tun was charged under the An[1]ti-Corruption Law Section 55 at Phayagon Myoma police station in Nay Pyi Taw yesterday and the ACC will take further action.