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Throughout its plenary session on March 23, Parliament supported to debate a draft modification to the Legislation on Particular Authorities Fund.
To be able to improve the revenue of agricultural operators and create an accessible distribution system for merchandise primarily based on the actual market demand and desires, the invoice sponsors imagine that it’s applicable to ascertain a state-owned enterprise. The draft modification contains provisions for the liquidation of the Agricultural Assist Fund.
In the course of the session, Minister of Agriculture and Mild Business Kh.Bolorchuluun reported, “The Agricultural Assist Fund has turn into a spot of debt and charity. The quantity of the fund’s receivables and payables is 200 billion MNT. It’s actually not potential to go on like this. In any case, we view that individuals’s tax can’t be spent inefficiently as a fund. Subsequently, the fund must be transformed into an organization. Administration members can be chosen by way of a variety course of. We’ll change its employees and construction. The principle debt of the fund is said to the truth that fastened belongings and huge agricultural equipment, are borrowed from overseas and distributed at a reduction. Sooner or later, it must be topic to public scrutiny.”
Member of Parliament S.Odontuya commented, “Just lately, folks now not belief state-owned corporations. You will need to have seen it in the course of the public listening to of the Growth Financial institution. The objective of creating agriculture and supporting the non-public sector is correct. The Growth Financial institution additionally mentioned that it might present loans for initiatives that may enhance the nation’s improvement. The Mongolian Individuals Social gathering’s coverage says that every one folks can be lifted out of poverty by giving 10 trillion MNT loans, however the loans didn’t go to small enterprise house owners. The chairman of the Standing Committee on Economic system mentioned that Mongolia’s financial savings elevated fivefold per week after the ten trillion MNT mortgage went to the banks. It’d weaken folks’s confidence.”
Minister Kh.Bolorchuluun defined, “It’s crucial to show the fund into an organization and function it on a enterprise foundation. The shareholder of this firm is the Ministry of Agriculture and Mild Business. The company is not going to compete with what the non-public sector is doing. Nonetheless, the help supplied by the federal government will undergo the corporate. An important factor is to settle the debt. Inexperienced tractors from China have been distributed to virtually each cattle farmer at a 50 p.c low cost. The debt is incurred on the fund. Sooner or later, the company will help all agricultural corporations.”
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