13 Dec
ABOUT 170 state-owned pearl lots and 35 pear lots owned by companies were sold out on the second day of the Myanmar Pearl Auction (December-2019) in Nay Pyi Taw yesterday.
The auction fetched 1 million euros from sales of stateowned 170 pearl lots and over 251,000 euros from 28 pearl lots owned by companies.
15 foreign merchants and 94 local merchants totalling 109 attended the auction yesterday. Deputy Minister for Natural Resources and Environmental Conservation Dr Ye Myint Swe visited the pearl auction at the Myanma Gems Museum in Nay Pyi Taw.
Myanmar Pearl Auction (December 2019) is organized by Ministry of Natural Resources and Environmental Conservation. The pearls will be sold to the local merchants in Myanmar kyat, and they need to make a deposit of K2.5 million, and their foreign counterparts will have to pay a deposit of Euro 2,000.
The tender winner will also have to pay 5 per cent commercial tax on the value of the pearl lots. On the third day today, a total of 110 pearl lots will be sold.—MNA (Translated by Kyaw Zin Lin)
