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A draft law about Bayanmongol Corporation initiated by MPs L.Bold, Ya.Batsuuri, D.Gankhuyag, D.Zorigt, D.Orkhuu and B.Batbayar has been submitted to the Government for discussion. Bayanmongol Corporation will operate 15 strategic mines, give citizens free shares, and give dividends to all citizens. It will be a big corporation competing in the global market. The initiators hope its success will raise the standard of living of citizens by distributing the natural resources equally to the people. L.Bold told newsmen that the draft is the outcome of months of research on how to use strategic deposits by a working group set up by DP, which was the party to promise to distribute natural resources through shares. If the law is approved, Mongolian citizens will own shares directly in Bayanmongol Corporation. The capital of the corporation will be estimated at USD1 trillion, though strategic mines in the country have reserves worth more than that.
Source: www.news.mn
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