Daily Business News Mongolia

MP D.Zorigt, the deputy head of the Examining sub-committee on Budget Expenditure of the State Great Khural, initiated a proposal to add on the budget income by withdrawing 25.3 billion MNT, the profit difference for the Mongolian side, from the profit of year 2007 of the Mongolain Russian Joint Enrichment Factory “Erdenet”.

Q: MPs are interested in this money. Why the budget income from Erdenet was decreased in the previous years?
MP D.Zorigt: Last year, according to the state budget approved by the State Great Khural, 109 billion MNT from Erdenet Factory was legalized as the profit share of the Mongolian 51% hold. But the Mongolian delegates discussed this issue at the Committee Meeting of Erdenet and decreased this amount by 25 billion MNT. It was illegal act. It can’t be decided like this way. Therefore, I thought that this illegal act must be stopped and the money shall go to the state budget.
Q: What is the issue of another 60 billion MNT?
MP D.Zorigt: This money is allocated for the factory as the innovation to the factory. It has been talking more than 10 years and it is still not started yet. The result of this work must be exposed to the public openly. Erdenet is the property of people of Mongolia. But it became closed factory. It must be open to public.

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