Information Committee of State Peace and Development
Council holds Press Conference No 4/2005

YANGON, 15 May — Information Committee of the State Peace and Development Council held the Press Conference No 4/2005 on rules and regulations of use of foreign currencies, formation of Shan State provisional government and declaration of Shan State independence by expatriate Sao Hkam Hpa and accomplices, conspiracies of terrorist groups such as SSA let by Ywet Sit, KNU, KNPP, NCGUB and ABSDF and their deceitful terrorist and destructive acts committed in synchronization at the meeting hall of the Ministry of Information on Theinbyu Road here at 2 pm today.

The press conference was attended by Minister for Information Brig-Gen Kyaw Hsan, Minister for Home Affairs Maj-Gen Maung Oo, Minister for Finance and Revenue Maj-Gen Hla Tun, Deputy Minister for Information Brig-Gen Aung Thein, Deputy Minister for Finance and Revenue Col Hla Thein Swe, Deputy Minister for Social Welfare, Relief and Resettlement Brig-Gen Kyaw Myint, Deputy Minister for Labour Brig-Gen Win Sein, Deuty Minister for Health Dr Mya Oo, Maj-Gen Khin Aung Myint of the Ministry of Defence, Director- General of Myanmar Police Force Brig-Gen Khin Yi and heads of department, news and information officials, U Sein Win of Kyodo News Agency, Patron of Myanmar Foreign Correspondents Club U Hla Htway, President Sao Kai Hpa and member correspondents, correspondent Mr Toru Kawabe of Yomiuri Shimbun (Bangkok Branch), local and foreign journalists and guests.

First, Deputy Minister for Finance and Revenue Col Hla Thein Swe made clarification on rules and regulations on use of foreign currencies.

He said the government has laid down and is implementing financial and monetary policies for successful realization of the political, economic and social objectives of the State. The people are to invest their capital in production and service sectors, which play a leading role in the national economy, in accordance with law, rules and regulations adopted by the government.

Some businessmen, seeking solely self-interest, are illegally using foreign exchange, buying, storing and marketing them, breaching the monetary law, rules and regulations.

Some businessmen are smuggling foreign currency out the country and engaged in improper business practices. There were frequent seizures of foreign banknotes smuggling out the country.

Some citizens, applying various ways and means, left the money they earned abroad or realized from export in foreign nations without taking it into the nation, and they are remitting it through illegal means and trading with it.

Those self-seeking acts are not in conformity with the law and are triggering destabilization of prices in the nation, inflation and undermining economic development of the State. The government prescribed regulations in connection with remittance and taking of foreign exchange abroad.

(a) Remittance of foreign exchange can be made with the permission of foreign exchange management board of Central Bank of Myanmar of the Ministry of Finance and Revenue and administrator of foreign exchange.

(b) Hotels and airlines that accept foreign exchange are permitted to make remittance without any restrictions on amount of money under the scrutiny of foreign exchange management board.

(c) Those who open current accounts can draw foreign exchange up to 500 units from their own account for foreign tour. It is necessary for those who want to draw more than the above-mentioned amount to ask for permission of the Ministry of Finance and Revenue through the respective banks.

(d) Non-governmental staffs for foreign tour are permitted to do the following:-

(1) An ordinary traveller can exchange 100 FECs for foreign exchange.

(2) Those who undergo medical treatment abroad are permitted to exchange FEC for foreign exchange depending on the complaint and according to the recommendation of the doctor. If he has own account, he can draw money from it.

(3) Local entrepreneurs are permitted to draw foreign exchange from their own accounts. It is necessary to obtain the approval of the organization concered if the amount is large.

People should observe the rules and regulations on foreign exchange. Such measures can contribute to economic progress and monetary stability of the State.

Next, Chairman of Information Committee of the State Peace and Development Council Minister for Information Brig-Gen Kyaw Hsan clarified the formation of Shan State Provisional government and declaration of Shan State independence by expatriate Sao Hkam Hpa and accomplices, conspiracies of terrorist groups such as SSA led by Ywet Sit, KNU, KNPP, NCUB, NCGUB and ABSDF and their deceitful terrorist and destructive acts committed in synchronization.

(Minister for Information Brig-Gen Kyaw Hsan’s clarifications are reported separately.)

Next, Minister Brig-Gen Kyaw Hsan, Minister for Home Affairs Maj-Gen Maung Oo, Minister for Finance and Revenue Maj-Gen Hla Tun, Deputy Minister for Health Dr Mya Oo and Director-General of MPF Brig-Gen Khin Yi replied to the queries raised by the newsmen. The press conference came to a close at 4 pm.

The newsmen observed documentary photos of a scheme to secede Shan State from the Union by renegade Sao Hkam Hpa and cohorts, trafficking of opium by SSA led by opium bandit Ywet Sit, personal data of Sao Hkam Hpa and cohorts, announcements of national race organizations that opposed the declarations on secession of Shan State from the Union by renegade Sao Hkam Hpa and cohorts, announcements of national armed groups in Shan State from the Union and other states and divisions that returned to the legal fold, announcements of social organization and political parties, documentary photos of ceremonies to oppose and condemn the announcement on secession of Shan State from the Union by renegade Sao Hkam Hpa and cohorts, photos of terrorists who based in border areas and other nation who will break up the Union and commit terrorist acts, photo of condemning the announcement to break up the Union by renegade Sao Hkam Hpa at the Youth Seminar held in Bagan Archaeological Region on 8-5-2005 and bomb blasts on 7-5-2005, photos of bomb blasts in Yangon and officials who gave encouragement to those who were wounded and photos of damage.