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-chairman of the Myanmar Investment Commission 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  Consumer 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 minimum 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 company, 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 Anti-Corruption Law Section 55 at Phayagon Myoma  police  station  in  Nay  Pyi  Taw  yesterday and the ACC will take further action.

MNA

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