TAX RELIEF FOR NAT'L OIL COMPANIES

Ulaanbaatar, Mongolia /MONTSAME/ The cabinet made on Wednesday a decision about rendering tax relief to national companies of the oil sector.

Only one oil factory exists so far founded in 2001 at Erdenet city's oil base, but in nearest future many will appear in frames of the government's policy on establishing national oil refineries in several places.

The cabinet considered as necessity to give the tax relief to those national companies who are employing people and are seeking technological renovation. This measure is especially vital in times when export tax on Russian raw materials are much higher of those on final products.

B.Khuder