PROGRAM APPROVED TO STABILIZE PRICES
On Wednesday, the cabinet backed in principle a draft program on stabilizing fuels, some consumer goods and transportation prices, after an introduction by Ch.Khurelbaatar, the head of the Cabinet Secretariat of Government.
Then the cabinet set up a council, chaired by the Finance Minister and intended to control the program's implementation.
Within the program, the cabinet members, governors of aimags and the UB city Mayor have been obliged to work out action plans aiming at augmenting productions and supply of consumer goods, improving quality and sufficiency of services, stabilizing prices, and efficiently utilizing budget capitals and saving the expenditures. In the first turn, rates of foreign exchanges and of the Mongolian togrog (MNT) will be stabilized, and implementation of related laws will be ensured to protect people from the price boost.
The cabinet decided to pay attention to the inflation and to ensure a stabilization of the currency rates, to regulate the biggest circulations of foreign exchanges, to ban foreign currencies in calculations and settlements. The Ministry of Finance has been told to effectively spend the budget money and use investments in increasing vacancies and reducing unemployment rate. In addition, the cabinet resolved to seek an opportunity to reduce the VAT of oil products to zero and to create a reserve of fuels.
Source : Montsame.mn
Then the cabinet set up a council, chaired by the Finance Minister and intended to control the program's implementation.
Within the program, the cabinet members, governors of aimags and the UB city Mayor have been obliged to work out action plans aiming at augmenting productions and supply of consumer goods, improving quality and sufficiency of services, stabilizing prices, and efficiently utilizing budget capitals and saving the expenditures. In the first turn, rates of foreign exchanges and of the Mongolian togrog (MNT) will be stabilized, and implementation of related laws will be ensured to protect people from the price boost.
The cabinet decided to pay attention to the inflation and to ensure a stabilization of the currency rates, to regulate the biggest circulations of foreign exchanges, to ban foreign currencies in calculations and settlements. The Ministry of Finance has been told to effectively spend the budget money and use investments in increasing vacancies and reducing unemployment rate. In addition, the cabinet resolved to seek an opportunity to reduce the VAT of oil products to zero and to create a reserve of fuels.
Source : Montsame.mn
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