"From the viewpoint of economics and industry, 1968 was another disappointing year for Burma. Production was low, prices soared, and exports continued their downward trend causing a worsening of the balance of payments position. The Government assumed control of more of the nation?s industry, the level of insurgency remained high, and managerial and technical talent continued to emigrate. During the year, the Government took over 169 additional industrial concerns, including 16 in ?metals” and nine in ?engineering.” Burma no longer produces quantitiwise any mineral of world consequence. Production from the historically famous Bawdwin mine near Lashio and the Chinese border dropped to the lowest level in a decade, partly because of conversion of operations to extract more low-grade ores. Tin and tungsten production was down slightly; some of these mines in Tavoy and Mergui may be closed. However, oil production increased, with discovery of new fields and completion of additional wells. In fact, the country claimed self-sufficiency for petroleum at yearend 1968. Cement output also increased. According to official Burma national budget estimates, total ?mining” output in fiscal 1967-68 was $28.9 million. This figure includes crude oil and limestone, but not salt and value added from mineral and metal processing. Burma?s gross national product (GNP) for 1967-68 was reported at $2.06 billion at current prices. Targets for mineral output and GNP covering fiscal 1968-69 were $37.7 million and $2.24 billion, respectively. In recent years, targets have seldom been fulfilled, and value figures have been exaggerated because of inflation and free market rates. Only about 54,000 workers out of a labor force of 10 million and a population of some 26.4 million were said to be engage! in mining during 1968. Installed electric power capacity was only 196,300 kilowatts at yearend 1968; far from sufficient to supporting extensive mineral, and industrial development. Under the 4-year national economic plan ending 1969—70, special attention was to be given to mineral development. Financing was to come predominantly from domestic sources, since foreign aid is limited and foreign investment almost nonexistent. Outlays for mineral development by the Government of Burma have been modest, with expenditures approximating receipts. The national budget showed the following anticipated expenditures for fiscal 1967-68: People?s Oil Industry, $71.4 million; People?s Bawdwin Industry (PBI), $7.8 million; Mineral Development Corporation (MDC), $3.7 million; Ywama Steel Mill, $5.9 million; and Thayet Cement Factory, $3.3 million..."