Irrawaddy-Sept 10

Myanmar’s military regime will auction off 12,500 tons of hardwood on September 16 and 30 as it seeks to raise hard currency to fund its coup. Myanma Timber Enterprise, the state-run entity which controls Myanmar’s timber sales, said the timber for sale includes 1,500 tons of teak logs and 1,000 tons of sawn teak. The auction will be held in Yangon’s Insein Township with buyers bidding online. In May, the junta held three separate auctions at which nearly 10,300 tons of timber were sold for around US$5 million, followed by another auction in June of more than 14,000 tons of timber. The wood sold in May and June reportedly came from a stockpile of 200,000 tons of illegally-harvested timber seized by the now-ousted National League for Democracy government. The UK and US-based Environmental Investigation Agency (EIA) said in a statement in May that the military regime is seeking an injection of hard currency by selling off thousands of tons of illegal timber to international markets.

Read more at: https://www.irrawaddy.com/news/burma/myanmar-junta-to-auction-over-12000-tons-of-illegal-timber.html