Constitution authors hold their first assembly
By B. Amarsaikhan
Ulaanbaatar, January 14 (MONTSAME) In a scope of marking of the 23rd anniversary of the Constitution, the first assembly of the Association of Constitution Authors was held in the Great Chamber of the State House on January 13. Today, out of the 430 deputies of the People’s Great Khural of 1992, 289 constitution authors are alive and well.
President of the association D.Moondoi delivered the opening remarks. He said that the then-deputies of the People’s Great Khural adopted a “brand new” democratic constitution 23 years ago, that legalized a political democracy, honored the human rights, declared market economy with state regulations, accepted pluralism, and acclaimed parliamentary governance, a system with appropriate power distribution, a non-federal and sovereign state system where administrative units are partially and publicly self-governed, and a constitutional court monitoring.
“Over 900 thousand citizens have actively participated in the discussion of the constitution draft. Opinions and suggestions of 415428 people were sounded, of which 5177 (double counted) recommendations has been submitted. Ten working groups of 90, consisting of managers, distinguished scholars and professionals, in charge of reviews over the recommendations and reflecting them to the draft had operated.” Therefore, this constitution is as well an intellectual work of all Mongolian people, he added.
Mr Moondoi congratulated the fellow constitution authors, and thanked the Speaker Z.Enkhbold for resolving to establish the order of B.Chimid, the State Honored Lawyer.
The assembly was chaired by D.Mandakh, the executive director of the association, and continued with the speeches of the deputies.
Present at the event were the first president of Mongolia P.Ochirbat, the vice-chairmen of the State Great Khural R.Gonchigdorj and L.Tsog, along with D.Demberel and N.Batbayar MPs.
Winners of 2015 Traditional Wrestling Competition Dedicated to Constitution Day of Mongolia
January 14 (infomongolia.com) Celebrating the 23rd anniversary of the new Constitution of Mongolia, the Traditional Wrestling Competition dedicated to the Constitution Day was organized by Secretariat of the State Great Khural (Parliament) in the Wrestling Palace, Ulaanbaatar on January 13, 2015.
This year’s competition brought a total of 224 wrestlers with State and Aimag titles, which has been organized since 1992.
In the final round of the 2015 Traditional Wrestling Competition dedicated to the Constitution Day, State Elephant (Ulsyn Zaan) D.Baasandorj and State Hawk (Ulsyn Khartsaga) E.Oyunbold were left, where a resident of Buregkhangai Sum of Bulgan Aimag, D.Baasandorj won over E.Oyunbold, resident of Umnudelger Sum of Khentii Aimag.
Wrestling tournament for Constitution anniversary completed –Montsame, January 14
Presidential Trophy Handed
By B. Amarsaikhan
Ulaanbaatar, January 14 (MONTSAME) Under the auspices of President of Mongolia, a traditional wrestling competition among top 128 wrestlers dedicated to the 103rd Anniversary of Restoring the National Freedom and Independence of Mongolia was held on December 29, 2014, and resident of Baruunturuun Soum of Uvs Aimag, State Champion S.Munkhbat won the competition receiving the Presidential Trophy for the second time.
Chief of Staff of the Office of the President P.Tsagaan handed Tuesday the special version of the President’s Trophy for lifetime owning to State Champion S.Munkhbat and congratulated.
Working group set up
By B. Khuder
Ulaanbaatar, January 14 (MONTSAME) At its regular meeting on Monday, the cabinet made a decision to set up a working group with responsibilities for studying a chance to make protected areas near Bogd Khaan Mountain places in special purposes.
The working group aims to slacken centralization of population by creating new residential areas which resolved socio-economic, urban development and ecological issues in Ulaanbaatar city and Tov province, and to improve a living condition for people.
Head of the Cabinet Secretariat for Government S.Bayartsogt will chair the working group that will calculate the size of compensations to citizens or legal subjects in case of changing and taking places owned by them, to estimate the cost of building the economic infrastructure in new residential areas, and amend the related legal documents on these matters. He was obliged to present to the cabinet specific proposals and conclusions in January 30, 2015.
Energy Minister meets Ambassador of France
By B. Khuder
Ulaanbaatar, January 14 (MONTSAME) The Minister of Energy D.Zorigt Tuesday received Mr Yves Delaunay, the Ambassador Extraordinary and Plenipotentiary of France to Mongolia.
Expressing thanks to the Minister for an audience, Mr Delaunay noted many works are going on for celebrating the 50th anniversary of the Mongolia-France diplomatic relations to be marked on April 27 this year, and mentioned that delegates of French biggest energy companies participated in the second bilateral economic forum held last September in Ulaanbaatar. The Ambassador invited the Minister to take part in the 3rd business forum to be held in February in France.
In response, Mr Zorigt said that the GDF-Suez French company has been selected to construct the #5 thermal power station of Ulaanbaatar city, and hoped a project on the power plant construction will be implemented successfully. He added the GDF-Suez company also has been working at a consortium to build the Tavantolgoi power plant of 450MWT and the Eg River’s hydropower station.
Underlining an importance of making great efforts to forward the bilateral cooperation in the energy sector and to bring it into a new volume, the Minister said Mongolia intends to learn an opportunity to involve engineering and technical experts in long-, middle- and short-term training in France with fellowships, to attract French state-run and private companies in new projects and programmes and to collaborate in introducing low-cost, effective and the latest renewable energy technologies in Mongolia.
The Ambassador accepted the proposals of the Minister, and promised to realize them.
FRC receives financial sector representatives
By B. Amarsaikhan
Ulaanbaatar, January 14 (MONTSAME) Newly appointed director of the Financial Regulatory Committee Ms Z.Narantuya received Tuesday the representatives of professional unions for an open discussion.
Representatives of the Union of Mongolian Stock Exchange Traders, the Union of Agricultural Exchange Brokers, the Union of Mongolian Non-Bank Financial Institutions and the Union of Mongolian Insurance Procurers met the FRC director and discussed about the sector’s legal and market environments, obstacles faced by businessmen and entrepreneurs imposed by state actions, and about the future trends of the financial sector of Mongolia.
As the main problems for the businessmen from this sector, the representatives named the increased number of unnecessary regulations and permissions, audits and monitoring processes that waste too much of their time and money.
For instance, a recent change into the related law that obligated the SX traders to have authorized capital of MNT 500 million has been an ill-timed decision in these times of economic decline, said the financial professionals. They also requested the FRC director to take a step towards alleviating this decision or to enforce the regulation step-by-step.
Insurance professionals mentioned about the need to adequately monitor the implementation of driver’s accountability insurances. Drivers tend to perceive the insurance only as a source of indemnity, thus departing from the key objective of this kind of insurance that is to tighten traffic safety and to reduce car accidents.
After being sounded with the opinions, the FRC director Ms Narantuya promised to put her efforts to reduce the number regulations and requirements for unnecessary permissions, and to reflect their recommendations into the draft laws to be discussed in the near future.
Doctors and teachers to demonstrate again
January 14 (news.mn) Doctors and teachers announced that they will be holding the next round of demonstrations on Friday, since the government has shown no positive response to their concerns about wages and proposed budget cuts.
The Government of Mongolia announced that it would not be increasing salaries, pensions, or social welfare allowances in 2015, and cutting 905 billion MNT from the budget in efforts to revive its flagging economy.
Moreover, the government has argued in favor for cutting monthly allowances for mothers, children, and students, and even the free allowances for recipients of the Mongolian Mother's Glory Order 1st and 2nd class.
But doctors and teachers are demanding pay increases are they are under rising pressure in their workplaces, and that the cuts are ill-timed.
Doctors and teachers gathered last week in a demonstration demanding pay increases of up to 60 percent, not 10, 20, or 30 percent, at Chinggis Khaan's Square.
They demanded pay increases, holding signs that read: We are not debt payers. The government should start the cuts with itself. We want to live a good life in our home country.
The demonstrators delivered their demand to Parliament and the government. But there was no positive response to the demand, so Chair of the Trade Union of Medical Staff B.Myagmar said, “We want a 60 percent pay increase. But there was not a good response from the government. So we will hold a demonstration again on Friday, January 16th, to call for our voice to be heard."
'Legend of the Great Queens of Mongolia' returns to the stage
January 14 (news.mn) The State National Song And Dance Academic Ensemble of Mongolia is to stage epic tales of the legendary history of the Mongolian Empire's queens on stage.
“Legend of the Great Queens of Mongolia”, the saga of nine beautiful and wise queens from Goo Maral and Alungoo to Oulen, Burte, Durgunu, Sorkhagtani, Chimbai, Samar, and of course, Mandukhai, will be told in the language of dance on the stage of the State National Song And Dance Academic Ensemble, at 7:00 p.m., on January 29 and 30th.
The ballet “Legend of the Great Queens of Mongolia” is unique in its telling - through dance - of the history of the great queens of the Mongol Empire, who are remembered in history for their great merits while fighting for independence and sovereignty.
Produced by G.Tsogtgerel, the director of the State National Song And Dance Academic Ensemble, the libretto (composition) of the ballet was written by N.Bold, and the performance will be directed by D.Bayarbaayar. The musical composition was written by M.Birvaa and composed by State Honored composer B.Munkhbold.
“Legend of the Great Queens of Mongolia” will be guided by the conductor of the State National Song And Dance Academic Ensemble, N.Buyanbaatar.
Half of meal costs in kindergartens to be paid by parents
January 14 (news.mn) The Standing Committee on Social Policy, Education, Culture and Science has reviewed issue of the cost of meals in kindergarten being shared by parents, and the position gained support from the majority of committee members during its regular meeting on Thursday.
Suggestions to increase variable costs for children in kindergarten, and to lower payment by the government for the cost of meals in kindergarten to 50 percent, requiring parents to pay the remained were raised. The cost of meals for disabled and children from low-income families would still be paid 100 percent by the government.
There have been frequent complaints from parents about the poor ingredients and nutritional value of meals prepared in preschools.
The suggestions to increase the variable cost of meals in kindergarten and let parents pay for half of the cost have been approved in their first stage of discussion.
Working group to make amendments to the Constitution created
January 14 (news.mn) Speaker of Parliament Z.Enkhbold gave an order to create a working group to make amendments to the Constitution, on January 13th. The working group will consist of 9 members, including MPs who were involved in the adoption of Mongolia's democratic constitution, and MPs of the Mongolian National Democratic Party (MNDP) and Civil Will and Green Party.
When a new, democratic constitution was adopted in 1992, MP D.Lundeejantsan, D.Demberel, L.Tsog, L.Bold, R.Gonchigdorj, S.Bayartsogt, and N.Batbayar were involved.
Two years ago the Speaker of Parliament established also a working group lead by Deputy Speaker L.Tsog to study if it was necessary to make amendments to the Constitution.
The working group conducted a study, involving researchers and scholars, and reached the conclusion that the Constitution needed to be amended partially.
The working group submitted their conclusions to caucuses in Parliament last year.
Mongolia Authorized to Utilize 7 Ports in North China to Improve Country's Economic Efficiency and Facilitate Railway Transportation
January 14 (infomongolia.com) At the regular Cabinet meeting held on January 12, 2015, some intergovernmental agreements established between Mongolia and the People’s Republic of China during the state visit of the President Xi Jinping to Mongolia in August 2014 were approved.
These documents signed are “Intergovernmental Agreement on Transit and Freight Transportation to the Sea and Back through Mongolian and Chinese territories” and “Intergovernmental Agreement on Cooperation in Railway Transit Transportation”.
In the scope of implementation of above agreements, Mongolia will be enabled to export its mineral products to the third party under concessional term delivered through the territory of China to the seaport.
Moreover, China grants beneficial circumstances for Mongolia on railway transit transportation regarding the routes, volume, tax and tariff concessions that would be increase the number of sea ports authorized to use by Mongolia. These sea ports open to foreign trade and that were reflected in the intergovernmental documents to utilize are Dandong, Daliyen, Jinjou, Yingkou, Qin, Huangdao, Huanghua and Tianjin ports.
Agreements on the Mongolia-China transport approved – news.mn, January 14
Women in Business and Management Report: Mongolia stands at 17th place out of 108 countries surveyed
January 14 (infomongolia.com) On January 12, 2015, the Bureau for Employers' Activities affiliated the International Labour Organization issued the first report on "Women in Business and Management" that aims to create greater understanding of the barriers to women’s advancement in business and management.
The report themed "Gaining Momentum" provides a comprehensive, up to-date and global picture of women in the business world and in management positions, but surveys and statistics are brought from the latest years until 2012.
The report underlines the fact that women’s presence in the labor market is increasingly significant for economic growth and development at both national and enterprise levels. However, women business owners are concentrated in small and microbusinesses, and still only 5 percent or less of CEOs of the largest global corporations are women.
According to report, just 18 women were heads of state in March 2014, and women were only 22.9% of all elected parliamentarians worldwide in April 2014. So, as of the State Great Khural (Parliament) of Mongolia, there are 11 women Parliamentarians were elected in 2012 elections.
Over the last 20 years women have been filling the ranks of management particularly at middle and even senior management levels, and the "Women in Business and Management" report is topped by Jamaica, where 59.3 % of women’s percentage share of all managers and Mongolia is ranked at the 17th place with 41.9% as of 2012.
Winners of 2015 Amateur Chess State Championship
January 14 (infomongolia.com) On January 13, 2015, Mongolia celebrated the 23rd anniversary of the Constitution Day, which was adopted on January 13, 1992 and considered the first democratic new Constitution of Mongolia.
Celebrating the Day, many activities were organized and as part of sport events, the two-day Amateur Chess State Championship under the auspices of the Speaker of the State Great Khural (Parliament) has been successfully organized for the third consecutive year in the Government House.
Winners were named on January 11, 2015 and this year, the number of participants were increased compare to last edition and have competed over 2,300 players, whereas, 94 male and 33 female competitors were left in the final stage.
In the Men’s category, a player from Ulaanbaatar, S.Altangerel won the first place followed by U.Tserendorj, resident of Orkhon Aimag and D.Duurenjargal from Dornod Aimag.
In the Women’s category, the first place went to T.Mart, resident of Darkhan-Uul Aimag, where the Silver and Bronze medals were achieved by B.Altantuya (Selenge Aimag) and J.Altantsetseg (Uvs Aimag) respectively.
President, Speaker, Premier and Foreign Minister Extend 2015 Greetings to Heads of Foreign Diplomatic Missions and International Organizations in Mongolia
January 14 (infomongolia.com) On January 14, 2015, President of Mongolia Mr. Tsakhia ELBEGDORJ as customary welcomed the Heads of Foreign Diplomatic Missions and International Organizations in Mongolia at the Government Palace on the occasion of the New Year.
At the reception ceremony, Speaker of the State Great Khural (Parliament) Mr. Zandaakhuu ENKHBOLD, Prime Minister Mr. Chimed SAIKHANBILEG, Minister of Foreign Affairs Mr. Lundeg PUREVSUREN and other officials were present.
In his remarks, President Ts.Elbegdorj noted,
Your Excellency Dean of the Diplomatic Corps,
Excellencies Ambassadors, Charge de Affairs,
Representatives of International Organizations,
Ladies and Gentlemen,
I am delighted to meet with you today, just a day after Mongolia observed an event of profound historic values for us, the 23rd Anniversary of Adoption of the new Constitution of Mongolia. Along with my cordial gratitude for accepting our invitation, I extend to you the greetings for the New Year.
As you may have noted, the Years of the Horse have often been auspicious for Mongolia, with records of success and achievements. And as you also have seen, the past 2014 was a year of both success and challenges for Mongolia.
A New Government, as we rendered as the “Government for Solutions”, has been formed aspiring greater opportunities for development in spite of the blows of time. The Grand Coalition Government, while maintaining the continuity of our foreign policy, works to find optimal solutions to the multitude of issues facing our country today.
In particular, I do support actions and efforts to commence major mining and investment projects, assuring and enhancing confidence among domestic and foreign investors, ensuring economic growth and improving the livelihood of our citizens.
Ladies and Gentlemen,
In the past year, Mongolia recorded notable success and achievements in our foreign policy realm. The relations of our country with our two neighbors were reinvigorated with the respective visits of the Heads of State of the Russian Federation and the People’s Republic of China to Mongolia. At the initiative of Mongolia, for the first time, the Ulaanbaatar Tripartite Summit of the Heads of State of Mongolia, the Russian Federation and the People’s Republic of China took place during the 13th annual Summit of Heads of State of the Shanghai Cooperation Organization in Dushanbe, Tajikistan.
These high-level visits and summit have established a favorable foundation to further enhance our cooperation in infrastructure, railways, environment, construction and other sectors. We have advanced and enriched the scope and level of bilateral relations and cooperation with our two neighbors, and have solidified the foundation for substantive cooperation with our third neighbors.
In 2014, I paid visits to Liechtenstein, Japan, Austria and Hungary and participated in the plenary and other sessions of the World Economic Forum, the Summit of the Conference on Interaction and Confidence Building Measures in Asia, the 69th Session of the United Nations General Assembly and the ASEM Summit.
Mongolia hosted the President of Latvia, Speaker of the Grand National Assembly of Turkey, Speaker of the Lower House of the Republic of the Union of Myanmar and the Prime Minister of the Kyrgyz Republic, all bearing high importance.
The ratification of the “Agreement on Transparency in Matters Related to International Trade and Investment between Mongolia and the United States of America” by the State Great Khural and an agreement in principle between Mongolia and Japan to conclude an “Economic Partnership Agreement” have created practical opportunities and capabilities to expand our foreign economic cooperation.
As a country which pursues active foreign policy on global arena, Mongolia has been striving to contribute to stability in the Asia Pacific region, in particular to that of the Northeast Asian sub-region. With a view to contribute to maintaining stability in Northeast Asia and ensuring regional security through confidence-building Mongolia has set forth the “Ulaanbaatar Dialogue” Initiative. Within the confines of the Dialogue, the first International Symposium was successfully organized in Ulaanbaatar.
As a responsible member of the international community, Mongolia established an assistance fund - International Cooperation Fund - to share our democratic transition experiences and provide development and technical support for emerging democracies. Under these premises, we are actively collaborating with countries in the region such as Kyrgyzstan, Myanmar and Afghanistan.
I wish also to note here that at the invitation of the 2014 Chair of APEC, Mongolia attended the APEC Summit for the first time as a special guest.
At the Asia-Europe Meeting (ASEM) Summit held in Milan, Mongolia was entrusted with an honorable and responsible mission to host the 11th Summit of the Asia-Europe Meeting in Ulaanbaatar. I would like to express once again our deepest gratitude to all member-states of ASEM for providing support in our quest to host the 20th anniversary of historic Summit of ASEM in 2016 bringing together the Asia and Europe.
We have already started preparations for the Summit from last year and have established a National Council to undertake functional and organizational duties for hosting the Summit.
We will observe the 25th anniversary of our Democratic Revolution throughout 2015. Within the confines of the observation of this historic anniversary, we will commemorate the first free and democratic election as well as the establishment of the first democratic legislative, executive and judiciary governance in Mongolia in July and September of 2015.
Ladies and Gentlemen,
On behalf of the State and Government of Mongolia, I would like to extend our sincere gratitude to all of you for your close cooperation and high professionalism in your noble mission to develop the relations and cooperation between Mongolia and your respective countries and organizations in every field.
At this juncture, I am pleased to share with you with great news. Very soon, in a few days, Mongolia will welcome its third millionth citizen. Mongolians are a nation which reveringly exults at child-birth and say, “The more the people, the richer the dinner”, and I am sincerely happy and grateful to you that you are with us at this momentous occasion sharing with us this joy.
A New Year brings new commitments, changes, and new opportunities. I wish you sustained success and positive changes in 2015.
Happy New Year!
Afterwards, Ambassador Extraordinary and Plenipotentiary of Japan to Mongolia, Mr. Takenori Shimizu, who is the Dean of Diplomatic Corps in Mongolia, delivered the following remarks.
Ambassador T.Shimizu noted,
Your Excellency, Mr. President of Mongolia,
Speaker of the State Great Khural,
Ladies and Gentlemen,
Allow me first of all to express, on behalf of the Diplomatic Corps in Mongolia, our gratitude for this opportunity to meet with you and extend greeting address.
Looking back the past year, Mongolia has gained significant achievements. In particular, the foreign relations, exchanges of high level visits and active dialogues with the two neighbors and other countries have shown important results. The agricultural sector showed exceptionally high results with the number of livestock reaching 51 million heads of animal, which is the highest in its history, and harvesting the top volume of crops in 17 years. Using this opportunity, I would like to extend, on behalf of myself and my colleagues, our sincere compliments in this regard.
In 2015, we will observe the 25th Anniversary of the Victory of the Democratic Revolution in Mongolia. 25 years ago, on a cold day with temperatures reaching minus 30 degrees, thousands and thousands of young people gathered at the Sukhbaatar Square to launch their movement in order to clear the way for democratic values, market economy and a free society. I remember myself standing on that frosty day listening to speeches made by incumbent President Ts.Elbegdorj, incumbent UB Mayor E.Bat-Uul and late S.Zorig. Throughout the relatively short period of 25 years that have passed since that day, they have managed to lead their country toward dynamic and successful development under such values as freedom of speech and equal coexistence under the rule of law, for which I would like, once again, to express our compliments to you, Mr. President, and to the People of Mongolia.
We truly hope that 2015 would become a year of Mongolia’s development with active foreign policy, as well as vibrant economic policy aimed at boosting foreign investments, which are the basis for the country’s development and prosperity, and creating an attractive investment environment. Diplomatic missions accredited to Mongolia are looking forward to collaborate and provide all possible support to your efforts to develop Mongolia.
This year marks the 70th Anniversary of the End of the World War II and establishment of the United Nations Organization. We are confident that Mongolia will continue making its substantial contribution to maintaining peaceful coexistence of the international community and regional stability, development and prosperity of nations through such activities as participation in UN peacekeeping operations, and we all intend to render joint collaboration.
And finally, let me convey our wishes for progress and prosperity to Mongolia and the Mongolian people, good health, happiness and all the best to you who are present here today.
Thank you for your attention.
President greets diplomatic corps in Mongolia – Montsame, January 14
Batsuuri MP acquainted with activities of Ministry of Industry
By B. Amarsaikhan
Ulaanbaatar, January 14 (MONTSAME) Head of the parliamentary Standing committee on Economy J.Batsuuri got au fait with the activities and of the Ministry of Industry on Wednesday.
He was given detailed information by the Minister of Industry D.Erdenebat MP on the composition and structure of the Ministry and the intended frameworks. The Minister noted that, in regard of the formation of the Ministry of Industry, the laws on Industry, on Entrepreneurship, on Free Trade Zones and on Trades need to be amended, and requested Mr Batsuuri’s support and focus on the discussion of these draft amendments.
The Minister also informed that the ministry intends to put more focus on the leather industry, and emphasized the need to limit imports of products which are already produced by domestic manufacturers. For the time being, a work is being conducted towards planning the operational strategy of the Ministry for a 15- year-term.
Head of the economic Standing committee promised to look the same direction with the Minister and to form a working group to pursue the draft amendments, as precedented. He also gave directions to the Ministry to submit recommendations and suggestions upon first discussions by the Standing committee on the draft amendments to the Laws on Free Trade Zones and Special Permits.
Bank of Mongolia Increases Policy Interest Rate by 1.0 Point to 13%
January 14 (infomongolia.com) The Monetary Policy Committee (MPC) of the Central Bank of Mongolia (Mongol Bank) decided to increase its policy interest rate by 1.0 percentage point to 13% at the recurrent meeting held on January 14, 2015.
According to Monetary Policy Committee, the final policy statement will be released within two weeks and then a comprehensive explanation will be revealed, said officials.
Official Interest Rates of the Central Bank of Mongolia
Effective from - Policy Rate
2014.07.31 - 12.0 %
2013.06.24 - 10.5 %
2013.04.05 - 11.5 %
2013.03.13 - 12.5 %
2013.01.25 - 12.5 %
2012.04.17 - 13.25 %
2012.03.19 - 12.75 %
2011.10.25 - 12.25 %
2011.08.29 - 11.75 %
2011.04.28 - 11.5 %
2010.05.12 - 11.00 %
2009.09.30 - 10.00 %
2009.06.12 - 11.50 %
2009.05.12 - 12.75 %
2009.03.11 - 14.00 %
2008.11.19 - 9.75 %
2008.11.13 - 10.25 %
2008.09.10 - 10.25 %
2008.03.19 - 9.75 %
2007.11.21 - 8.40 %
2007.10.17 - 7.40 %
2007.07.09 - 6.40 %
BM increases policy rate – Montsame, January 14
Housing loans with 8% interest to undergo changes
January 14 (news.mn) Procedures for issuing housing loans with an 8 percent interest rate, a program implemented by the Mongolian government, are being changed.
We learned more about it from an official source at the Mortgage Corporation of Mongolia. The source stated, “The Mongolian government and Bank of Mongolia have made changes to the loan procedure. In particular, if the apartment which is going to be purchased through the loan with an 8 percent interest rate is new, 1 meter shall be priced at 2.2 million MNT, if old, the price will be no more than 1.9 million MNT. Banks are providing the loan according to this rule."
By establishing the new constraints on prices, banks will be protected from unsecure loans and if a borrower does not make loan payments, the apartment's value will comply with market rates.
After the launching of the program to provide loans with 8 percent interest, the price of apartments increased by 20 to 30 percent, and officials note that it will influence regulations on prices for apartments.
DP Faction Meets
By B. Khuder
Ulaanbaatar, January 14 (MONTSAME) An irregular meeting of the Democratic Party (DP) held Wednesday under a closed regime made a decision not to cut money from the allowances for children and the Order of Glorious Motherhood holders.
This issue will be discussed by the Standing committee on budget and then by a plenary meeting of the parliamentary session.
According to an amendment to the law on budget clarification submitted from the Premier, the allowance has been cut for receives of the Order of Glorious Motherhood whose children are 18 years old and above. Another allowance for children of MNT 20 thousand will be granted to only targeted groups.
Health and Sports Minister Receives WHO Reps
By B. Amarsaikhan
Ulaanbaatar, January 14 (MONTSAME) The Minister of Health and Sports G.Shiilegdamba received the permanent representative of the World Health Organization (WHO) to Mongolia Soe Nyunt-U along with his officials on January 14.
A suggestion on cooperation and co-realization of joint programs being implemented in frames of the cooperation strategy between the WHO and the Government of Mongolia, as well with the Ministry, was sounded at this meeting.
The Minister G.Shiilegdamba expressed his intent to expand the realization of joint health programs implemented by the Government and the WHO, and promised cooperation on the WHO projects in Mongolia.
The related officials of the WHO presented about the five spheres of program implementations that they are focusing on in frames of the 2010-2015 cooperation strategy: strengthening the healthcare system through improving the primary health services, non-infectious diseases, monitoring the factors inducing the violence and traumas, improving the prevention of diseases, and refining upon the environmental health.
Draft law submitted to parliament
By B. Khuder
Ulaanbaatar, January 14 (MONTSAME) An advisor to the President on legal policy Ch.Onorbayar Wednesday submitted to the Speaker Z.Enkhbold a draft law on imposing responsibilities upon elected and appointed state high-level servants.
Having 24 clauses divided into six articles, the bill reflects ground and rules of imposing the responsibilities upon the elected and appointed state servants, and forms a system of political responsibility at the state horizontal level.
Stock Exchange News for January 14
By B. Khuder
Ulaanbaatar, January 14 (MONTSAME) At the Stock Exchange trades on Wednesday, a total of 37 thousand and 668 units of 21 JSCs were traded costing MNT 23 million 531 thousand and 201.
"Binse HK” /15 thousand and 600 units/, “Remikon” /12 thousand and 759 units/, “Khokh gan” /7,400 units/, “APU” /762 units/ and "Baganuur” /259 units/ were the most actively traded in terms of trading volume, in terms of trading value were "Binse HK” (MNT 12 million and 324 thousand), "APU” (MNT two million 857 thousand and 500), “UB-BUK” (MNT one million and 419 thousand), “Remikon” (MNT one million 197 thousand and 585) and "Tavantolgoi” (MNT one million 053 thousand and 496).
The total market capitalization was set at MNT one trillion 422 billion 071 million 322 thousand and 189. The Index of Top-20 JSCs was 14,720.85, increasing 8.24 units or 0.06% against the previous day.