1072 shares or MNT 1 million

The Mongolian government has decided to grant 1072 shares to its citizens. In the scope of government’s 116th Article of 11th April 2012, new regulations related to “Erdenes Tavantolgoi” company’s shares to be distributed to citizens and be traded to enterprisers will be enforced. According to the Article, up to 20 percent of “Erdenes Tavantolgoi” shares will be owned to the citizens, who supposedly will get MNT 1.5 million allowance from the government.

In 2011 the government said to distribute 536 shares. Now it has decided to give additional 536 shares to the nation. However, citizens are uncertain whether they will choose the shares over cash or not. Newborns before April 2012 will have their 1072 shares. For people as well as elders and disabled citizens, who have had cash allowances from Human Development Fund or Health Insurance subsidiaries, certain percentages of their shares will be withdrawn. Applications for selling shares will be accepted until 20th of this month. People who haven’t applied within the appointed date will receive their shares in their own account.

B.Bayartogtokh

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