Burma forms association to oversee privatization

The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) has created an association with 46 entrepreneurs that will privatize all of the Myanmar Petroleum Products Enterprises’ (MPPE) stations countrywide, said the organization’s General Secretary Maung Maung Lay. The association will operate under the UMFCCI’s guidance, he said. Details on how the stations will be sold, managed or leased are still being worked out. Maung said the plan to privatize filling stations would finally rid the country of the black market for fuel and would allow people to buy as much fuel as they require. (February 18, 2010)