Government establishes price-control council
At Wednesday’s meeting of the Government, Chief of Cabinet Secretariat Ch.Khurelbaatar submitted a proposal to stabilize the prices of gasoline, some foods, and public transit fares.
Under the proposal, the prices of gas, consumer goods, some foods and services, and the tugrik’s rate against the U.S. dollar would be regulated, because, according to Ch.Khurelbaatar, some businesses that dominate the domestic market are illegally increasing prices for no good reason.
Government members approved the proposal and established a council headed by Finance Minister S.Bayartsogt. The council will oversee implementation of a price-control program to stabilize prices, monitor the program, and report on it to the Government monthly.
All government agencies, aimag governors, and Ulaanbaatar districts have been asked to improve the supply of consumer goods, monitor prices, spend budget capital with care, and economize expenditures. Members decided to regulate the sale of foreign currency to keep the tugrik from falling further.
The Finance Ministry has been asked to spend budget capital with care, increase investment to benefit households, generate more jobs, and reduce unemployment.
Under the proposal, the prices of gas, consumer goods, some foods and services, and the tugrik’s rate against the U.S. dollar would be regulated, because, according to Ch.Khurelbaatar, some businesses that dominate the domestic market are illegally increasing prices for no good reason.
Government members approved the proposal and established a council headed by Finance Minister S.Bayartsogt. The council will oversee implementation of a price-control program to stabilize prices, monitor the program, and report on it to the Government monthly.
All government agencies, aimag governors, and Ulaanbaatar districts have been asked to improve the supply of consumer goods, monitor prices, spend budget capital with care, and economize expenditures. Members decided to regulate the sale of foreign currency to keep the tugrik from falling further.
The Finance Ministry has been asked to spend budget capital with care, increase investment to benefit households, generate more jobs, and reduce unemployment.
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