Narinjara News

Interest on Unrealised ‘Quota of Rice’ in Burma

Maungdaw, 13 May 03:  The drive to realize the interest on the money lent to rice farmers in the western part of Burma has been launched beginning first week of May, according to our correspondent.

The ‘interest’  as branded by the ruling Burmese junta  is actually a kind of fine imposed on the rice farmers who failed to pay up the quota of rice for this season till April 4, after which the farmers who could not pay up the due quantity of rice were allowed a ‘grace period’ till 29 April to pay up the overdue loans.

After that period all the defaulters had automatic fines to be paid at the rate of fifteen percent besides the loan money.  The total rice collected in Rakhine State this season totalled 7,598,912 tinns (bushels) till April 4, which is about 95% of the total target of rice collection in the state. 

In an official order the Burmese SPDC junta has ordered all the rice growers in the state to pay back the fifteen percent interest money including the loan beginning the first week of May.  Our correspondent came to know that the junta has issued the order in a bid to open up the sale and transport of rice, which has so far been kept under tight control of the successive Burmese juntas.   The move was taken to lift official control over the rice production, distribution and sales beginning next year. 

Many of the farmers have reportedly fled their homes to escape the forceful realization of ‘fine’ and the loan money as they have had bad harvest this season.  #