National entities submitted to purchase 93 million shares of Erdenes Tavan Tolgoi
The regular meeting of the Cabinet of Ministers took place on June 20, 2012, where the following issues have been discussed and resolved accordingly.
The first issues discussed were matters relevant to the "Erdenes Tavan Tolgoi" shares
and it has been resolved to distribute the money for the shares of the civilians, who have requested to sell them to the Government at a nominal price, through the commercial banks that distribute the "Human Development Fund" welfare, by signing additional contracts with those banks. As of May 29, 2012, a total of 1 million 532 thousand and 853 people
have submitted their request to sell their allocated shares of the Erdenes Tavan Tolgoi to the Government and a majority of them are interested in receiving the payment in cash, where the rest have requested to receive it as a payment for their mortgage and other loans, health insurance and tuition fee.
As of June 20, 2012, a total of 1,096 national entities and organizations have submitted their request to the General Taxation Office to purchase 93 million shares from the Government. To date, 82 out of 1,096 national entities and organizations have transferred over 2 billion MNT to the Government account.
Moreover, the Cabinet got introduced with the process of the “program on stabilizing the petrol, diesel, some food commodities and public transportation
price” on its regular meeting. The Ministry of Mineral Resources and Energy, and the Petroleum Authority of Mongolia informed that the AI-80 and AI-92 gasoline are being delivered on its way to Mongolia from the Russian Federation, thus the petroleum supply and its prices will be at a stable in the coming two months.
Also, the Cabinet discussed the meat supply issues and concluded that the supply and distribution chain is not satisfactory nor appropriate, because the meat goes through the meat poachers before coming to the hands of the consumers and there is no restrictions and state control on meat export, thus in connection with the above reasons Ulaanbaatar is facing meat shortages and inflated prices. Henceforth, the Cabinet resolved to provide an additional 15 tons of meat reserve by July 01, for urban consumption and to organize retail trading of the meat to the consumers and sign a meat supply agreement with the authorities of the aimags. Also, it was resolved to grant the Capital City Governor’s Office with a permission to receive 40 billion MNT loans, that is needed for providing the meat reserve from the State Fund and it has been resolved respectively to ban the meat and meat product export
till July 01, 2012.