Vice speaker holds briefing about outcomes of spring session

On Tuesday, Vice Speaker of Parliament L.Enkh-Amgalan reported on the results of Parliament’s spring session.

The vice speaker underlined that Parliament made decisions for “supporting the nation’s economic growth and addressing social issues” including the Tavan Tolgoi IPO proposal and 80 percent coverage for the Child Money program.

L.Enkh-Amgalan said that Parliament’s Economic Standing Committee reviewed the ongoing process of the Mongol Bank governor’s strategic plan to reduce loan interests, and Parliament hopes to begin this strategic plan this year.

He added that after this plan starts being carried out under Mongol Bank, there will be an opportunity to lower commercial banks’ loan interest rates by nearly three percentage points.

The vice speaker stated that through amendments to a package of laws related to registration, Parliament created a state registration system that provides people and enterprises with fast and accessible state services.

L.Enkh-Amgalan claimed that during the spring session, Parliament created a legal and regulatory environment that helps address social issues facing public school teachers.

In addition, the vice speaker mentioned that a parliamentary task force to review a decision from an international court of arbitration about Erdenet Mining Corporation’s guarantee for loans issued by South Africa’s Standard Bank to Just Group, and another parliamentary task force reviewing the implementation of the Oyu Tolgoi investment agreement will report to the public.

Secretary of the Office of Parliament Ts.Tsolmon reported that throughout the spring session, Parliament adopted more than 80 bills and amendments to the laws through 27 sessions, and standing committees and sub-committees discussed more than 300 issues through 101 meetings.