Government Fund has meant savings, efficiency - News.MN

Government Fund has meant savings, efficiency

Old News! Published on: 2010.03.26

Government Fund has meant savings, efficiency

News.MN
News.MN
Uncategorized

Large amounts of money go through the Government Fund every day as all financial transactions of some 5,000 budgeted organizations are recorded there. For example, on March 23, MNT 8.3 billion was put into the Fund and MNT9.6 billion spent from it. Such centralization of the accounts of budgeted organizations has led to a significant increase in efficiency. It has also meant savings as duplication of work is now avoided.


The Budget Law recently submitted to Parliament has a separate section on how the Fund is to be run. At present, the Government does not make cash transfers and everything is done through commercial banks. Most of the organizations in the capital have accounts with Ulaanbaatar Bank, while those in the provinces are served by Khan Bank.

For your Reactions?
0
HeartHeart
0
HahaHaha
0
LoveLove
0
WowWow
0
YayYay
0
SadSad
0
PoopPoop
0
AngryAngry
Voted Thanks!