PM quizzes officials about rising prices
On Monday, Prime Minister S.Batbold questioned Mineral Resources and Petroleum Authority (MRPA) Chairman D.Amarsaikhan and Food, Agriculture and Light Industry Minister T.Badamjunai about rising fuel and meat prices.
D.Amarsaikhan said petroleum importers have raised gasoline prices because of the falling value of the tugrik against the U.S. dollar. He said gasoline prices had not increased sooner because the Government had lowered a fuel excise tax.
A report prepared by a working group headed by Deputy Mineral Resources and Energy Minister B.Ariunsan said the tugrik rate was MNT 1,345 to one U.S. dollar in December, but it fell to MNT 1,480 last Friday. That is why the companies proposed raising gas prices from MNT 230 per liter to MNT 260 per liter. Company officials and the working group headed by B.Ariunsan discussed the proposed hike and determined it was acceptable.
S.Batbold asked if the working group did research on the increase, and if it took into account the cost of transporting fuel.
D.Amarsaikhan replied that each petroleum importer calculates its prices based on its costs and on competitiveness. He added that the MRPA is looking into the matter.
Food, Agriculture and Light Industry Minister T.Badamjunai reported that the ministry has reserved 16,300 tons of meat since November 2011. He said meat prices are increasing due to the rising costs of livestock and fuel. He said reserve meat will be sold beginning January 15, and meat processors have been asked to limit exports.
Two working groups were established on Monday to monitor gasoline prices and the sale of meat from the state reserve. The former will he headed by Z.Batbayar, the latter by B.Darinchuluun, both of the Cabinet Secretariat’s Inspection and Research Department. The groups were to report their findings to Prime Minister S.Batbold on Tuesday.
D.Amarsaikhan said petroleum importers have raised gasoline prices because of the falling value of the tugrik against the U.S. dollar. He said gasoline prices had not increased sooner because the Government had lowered a fuel excise tax.
A report prepared by a working group headed by Deputy Mineral Resources and Energy Minister B.Ariunsan said the tugrik rate was MNT 1,345 to one U.S. dollar in December, but it fell to MNT 1,480 last Friday. That is why the companies proposed raising gas prices from MNT 230 per liter to MNT 260 per liter. Company officials and the working group headed by B.Ariunsan discussed the proposed hike and determined it was acceptable.
S.Batbold asked if the working group did research on the increase, and if it took into account the cost of transporting fuel.
D.Amarsaikhan replied that each petroleum importer calculates its prices based on its costs and on competitiveness. He added that the MRPA is looking into the matter.
Food, Agriculture and Light Industry Minister T.Badamjunai reported that the ministry has reserved 16,300 tons of meat since November 2011. He said meat prices are increasing due to the rising costs of livestock and fuel. He said reserve meat will be sold beginning January 15, and meat processors have been asked to limit exports.
Two working groups were established on Monday to monitor gasoline prices and the sale of meat from the state reserve. The former will he headed by Z.Batbayar, the latter by B.Darinchuluun, both of the Cabinet Secretariat’s Inspection and Research Department. The groups were to report their findings to Prime Minister S.Batbold on Tuesday.
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