Expedite rehabilitation to declining commodity prices

 

June 23

 

The rehabilitation efforts in the cyclonic storm Mocha-affected areas of Rakhine State are being accelerated following the completion of rescue and relief operations. The focus of the rehabilitation process is to promote the development of infrastructure and restore damaged buildings, agriculture, and livestock farms.

 

The impact of the storm has been severe on several townships in Rakhine State, causing significant losses and damages to manufacturing processes and services. Consequently, these townships have been unable to maintain their production capacity. Therefore, the unaffected townships must leverage their strengths to enhance productivity beyond normal levels.

 

By doing so, they can meet the demands for consumer goods, personal items, and production materials in storm-affected townships. During the rehabilitation period, efforts are being made to mitigate the decline in the GDP of the affected areas, which have experienced a significant loss of production.

 

Agriculture and livestock farms in the relevant regions and states are being operated to supply meat, fish, eggs, vegetables, and other consumer goods and personal items to the local population. This helps reduce the need to purchase goods from other regions and states, thus avoiding the high prices associated with manufacturing costs and transportation charges.

 

Micro-, small-, and medium-sized enterprises (MSMEs) play a crucial role in this process. The success of these businesses can contribute to a substantial increase in the supply of products, leading to lower prices for consumers. To support the expansion of MSMEs, business owners are seeking loans for their operations. The MSME central committee and the working committee have provided guidance on loan disbursement, specifying interest rates for the capital period, expansion period, and ongoing operations in accordance with the established rules and regulations.

 

An increase in the GDP of Rakhine State is vital for raising per capita income. This, in turn, will drive up demand and improve the state’s economy through increased productivity and the availability of raw materials. It is therefore essential to prioritize the rehabilitation of the meat and fish, agriculture, and livestock sectors, which are the mainstay of the region’s economy.

 

By expediting the rehabilitation efforts, Rakhine State can recover from the devastating effects of Cyclone Mocha. The restoration of infrastructure, repair of damaged structures, and revitalization of agriculture and livestock activities will contribute to the economic stability and prosperity of the affected areas. Additionally, supporting MSMEs and facilitating access to loans will further boost production and promote affordability for consumers. With concerted efforts, Rakhine State can emerge stronger and more resilient in the aftermath of the cyclonic storm.