Industrialization Policy Council meets
The Industrialization Policy Council met on Thursday and council chairman and First Deputy Prime Minister N.Altankhuyag, Deputy Minister for Food, Agriculture and Light Industry Kh.Zoljargal, Deputy Minister for Finance Ch.Gankhuyag, Chief of Small and Middle Business Office Ts.Nyam-Osor, and other relevant officials took part in the meeting.
Officials heard an implementation report on the Sainshand Industrial Complex project by an official from the National Development and Renovation Committee. The complex is under preparation, with plans to include facilities for coal processing, copper processing, iron processing, oil refining, and cement making, as well as a power plant.
Officials noted that research and financing for the project have been delayed, and a strategic consultant has not been selected yet.
Also at the meeting, Ts.Nyam-Osor reported on the granting of loans from the small- and middle-sized factory program and a soum fund for factory development. He said that the Government has decided to grant MNT 283 billion for establishing small- and middle-sized factories in 2011, MNT 230 billion of which has been borrowed by businesses, with 25,200 people employed. The state has allocated MNT 24 billion for the soum development fund and every soum has borrowed from MNT 50 million to MNT 265 million depending on its population, with 7,200 people having been employed.
Members of the council decided to amend the rules of the soum development fund because politicization and bureaucracy have been occurring in soums in conjunction with the allocation of funds.
The council’s next meeting will be in January 2012.
Officials heard an implementation report on the Sainshand Industrial Complex project by an official from the National Development and Renovation Committee. The complex is under preparation, with plans to include facilities for coal processing, copper processing, iron processing, oil refining, and cement making, as well as a power plant.
Officials noted that research and financing for the project have been delayed, and a strategic consultant has not been selected yet.
Also at the meeting, Ts.Nyam-Osor reported on the granting of loans from the small- and middle-sized factory program and a soum fund for factory development. He said that the Government has decided to grant MNT 283 billion for establishing small- and middle-sized factories in 2011, MNT 230 billion of which has been borrowed by businesses, with 25,200 people employed. The state has allocated MNT 24 billion for the soum development fund and every soum has borrowed from MNT 50 million to MNT 265 million depending on its population, with 7,200 people having been employed.
Members of the council decided to amend the rules of the soum development fund because politicization and bureaucracy have been occurring in soums in conjunction with the allocation of funds.
The council’s next meeting will be in January 2012.
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