Although international market economic systems are superior to Myanmar’s, military leader Min Aung Hlaing said at the meeting of the Union Cabinet held in Nay Pyi Taw on July 29, 2024, that the cooperative system is the most suitable for the development of the economic sector under the current situation.
With the economic downturn in Myanmar, reports of cash shortages and fuel shortages in some places are spreading widely. In this situation, because the prices of goods are rising exponentially, people are also facing crises when it comes to solving their food problems.
Currently, there is a shortage of cooking oil, so we will go back to the cooperative era where we have to line up to buy books in Yangon. The cooperative system was used by the former dictator, and the basic food products were bought in queues with a quota system set by the government.
Palm oil usually comes from the Irrawaddy region, and it is known that palm oil is only sold in limited quantities due to the low availability of palm oil. Therefore, the price of palm oil is extremely high and it is very difficult for the people. In addition to this, because rice prices are also rising, the lower classes may face famine.
Burma has been dealing with war for a long time, and after the military coup, the situation has worsened. That is why the country’s economy is deteriorating irreparably. Due to the country’s economic decline, the military government is using a backward-looking cooperative system.
Now, in Yangon, palm oil must be sold at the price set by the military council, and buyers must bring the palm oil purchase book provided by the district. Although the news of a shortage of palm oil in Yangon has spread, in other cities in the region, the shortage of basic food, medicine and cash is in a dire situation.
Not only is the economy declining in Myanmar, human rights, education and health are also declining.
