Due to the restricted loan giving from the commercial banks,
apartment and housing price slumped dramatically. But the price of construction
material is unchanged. The following is the apartment prices that varies from
their location and quality and are as follows
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Commercial banks provided huge amount of housing loan. There is no new resource. Construction work is about to end due to the seasonal reason. It is essential to finish construction works that are about to be completed. It is necessary to show certain support for unlocking the opportunity to people who paid their money already. Right now, the loan of the construction companies reached 210 billion MNT. Our banks are very cautious when granting loan. They give 20 or 30 million MNT for the real estate of 50 million MNT. Therefore, it creates the security of the loan. But commercial banks shall act decisively. One of the major factor of inflation is construction business.
Recently, lots of articles were published and written about the conflict of interest of the state officials. In other words, people, with conflict of interest, work in the state service. We questioned some well known people regarding this issue and put the following questions:
1. Do we need to have a law to prevent from the conflict of interest?
2. Can you name officials with the conflict of interest?
Readers can send their opinion to the following e-mail address of Zuunii Medee newspaper. (more…)
Political protests which turned violent in Ulaanbaatar, Mongolia on July 1st claimed an accidental victim: the Mongolian National Modern Art Gallery.
Last Monday protestors gathered outside the Communist Party headquarters – adjacent to Ulaanbaatar’s Cultural Palace, housing the Modern Art Gallery, National Philharmonic, Theatre Museum, and dozens of NGOs and small businesses – to voice their concern over allegations of widespread vote buying and electoral rigging during the previous weekend’s national election.
(more…)
July 2, 2008. Ulaanbaatar, Mongolia. We deeply regret the violence that erupted after the public protest on July 1, 2008, leaving several people dead, many injured, and valuable public and private property destroyed, including precious cultural artifacts. We believe this violence was an extreme expression of deep-seated anger and frustration accumulated by significant sections of the society as a result of persistent injustice and corruption.
We regret that during this critical time of public unrest and violence, political parties are seeking to maximize their political gain in pursuit of their narrow interests with no regard for people’s lives and human rights and freedoms. (more…)
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