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YANGON DIVISION – The junta council threatened industries in the industrial zones not to buy fuel on the black market. If they do, action will be taken, according to some businessmen from the industrial zones.
After the junta council stopped selling fuel at central bank rates, most industries received less fuel and had to buy it from the black market at higher rates. Consequently, the junta council compelled industries not to purchase fuel from the external market. If industries store fuel for over a week, they will face action.
Industries must purchase fuel with the junta council’s recommendation and only for a week’s usage. They need permission from the industrial zone committee and the junta council to buy fuel. If they purchase fuel without proper authorization, they will face action.
“The management of industries is disheartened because they can only buy fuel for one week of operation with the permission of the industrial zone and the junta council. If the industry is found to have fuel exceeding one week’s consumption, action will be taken. Obtaining permission is too challenging, and industries are forced to buy fuel on the black market. However, if they continue, the junta council will take action against them,” said an industry businessman.
Currently, most industries in every industrial zone can’t operate due to fuel shortages; less than 25 percent are running their operations. According to the businessmen, they will soon cease operations because the junta council is making threats like this.