Ministry allocates over 200B Kyat for power grid expansion
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Khit/ Munich (NP News) - Sep 18
A report from the State Administration Council’ statistics indicates that the Ministry of Electric Power (MOEP) will allocate 204,269.813 million kyats (over 200 billion kyats) for power grid expansion projects in the 2024-2025 fiscal year.
In addition to the power grid expansion, the MOEP plans to invest over 44 billion kyats in main power substations and implementing gridline projects within the same fiscal year.
"I believe it's necessary to invest in projects that benefit the country. Electricity is essential for both the people and the economy. In my business, we rely heavily on electricity.
Unfortunately, frequent power outages force us to use generators, which drives up our costs. Given that this investment is for the nation, I hope the budget is used wisely and efficiently to benefit the country," commented a Yangon-based business owner to The NP News.
In addition to expanding the national power grid, the ministry has allocated 7.05 billion kyats for rural electrification projects. As of now, over 108 towns and 34,659 villages across Myanmar lack access to electricity through the national grid system, according to the State Administration Council’s statistics.
It is projected that the ongoing expansion of Myanmar's electricity distribution network will result in 7.4 million households having access to electricity by the end of the current fiscal year. This would increase the national electrification rate to 68.4%.