Communist Ceasefire Group faces bankruptcy in Burma
Sittwe, 17th July 03: The Burmese Communist Party (Arakan) that signed ceasefire agreement with the ruling Burmese junta, SLORC (State Law and Order Restoration Council), in May 1997 faces bankruptcy in a number of financial ventures.
A source in the ceasefire communist group said that the branch office of the BCP (A) in
The communist group also plans to put to hire or lease the Sittwe bus terminal, Aero-lux bus service at Pauktaw, tractors at Sittwe, and sandbanks at Pauktaw in the face of a bankruptcy resulting from a loan of kyat ten million loan to the Municipal Bank.
In 1997, two hundred and eighty active members led by Saw Tun Oo, the Secretary of the party of the communist party, surrendered their arms and signed a ceasefire agreement. At the time the Burmese junta offered them lucrative deals and business houses in
The BCP (Arakan) is now headquartered at Aung Ziya Village of Maung Daw Township and is allowed to carry on its political and economic interests. #