According to figures released by the Government herders have received MNT 24.6 billion for their unsold cashmere at the rate of MNT 5,000 per kilo. Exempting herders from paying personal income tax has also benefited them to the tune of MNT11 billion. 

D.Tseveenjav, Head of General Customs, has told MPs seeking information on the operation of border trade points that working conditions and facilities there need to be improved in a big way if international trade is to be effectively monitored. There are 169 registered Chinese entities to export products, but most Chinese imports into Mongolia are handled by individual and unorganized traders. This makes comprehensive control difficult.

Clarifying aspects of the recent decision to export livestock to Russia in a big way, P. Gankhuyag of the Ministry of Food, Agriculture, and Light industry said the plan is to export 680,000 adult animals and 2 million slaughtered ones from 15 provinces. So far only 500 could be exported because of difficulties with their health status. The World Health Organization is the accepted authority to issue such a certificate but it does this just once a year and unfortunately the next meeting is still months away. 

MPs are discussing possible amendments to the already amended election law as the. 2008 parliament election held under it revealed many loopholes. For example, one MP could take his seat only 15 months after the election. A working group is now working on a draft law for the 2012 election.

While banking and financial circles welcome the merger of Savings Bank and Mongol Shuudan Bank there is speculation that another commercial bank is going to join the merger. This, too, will be good for the wider economy and for the banking sector in particular, as such merged banks would mean an increase in the number of customers, and more availability of loans. Merger to gain strength is certainly to be preferred in these fragile times when a whispering campaign that a certain bank “may go bankrupt” is enough to lead it to actual bankruptcy.