N.Batbayar: We cannot allow an illegal agreement to be implemented - News.MN

N.Batbayar: We cannot allow an illegal agreement to be implemented

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Old News! Published on: 2010.03.30

N.Batbayar: We cannot allow an illegal agreement to be implemented

News.MN
News.MN
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N.Batbayar, one of the MPs who have demanded that the Parliament Speaker resolve several issues before work on implementing the Oyutolgoi agreement can begin, answers questions on their move.



Do you expect any action on your demand?



All disputes must be settled by following the law, no matter how big or small the parties to the dispute are. Parliament gave certain clear instructions to the Government which the latter has ignored in its hurry and eagerness to sign an agreement. This renders the agreement illegal and we must not allow an illegal agreement to be implemented. We are asking for a resolution when there is still time. The country’s interests are paramount. Cooperation with foreigners cannot come at the cost of the nation. A project can be truly successful only when both sides benefit.



What did the Speaker tell you?



He will discuss the matter with his council members, and related working groups will study our views this week. Their reports will be discussed by the Standing Committees and their joint decision should then be discussed in Parliament.



All of you are MPs, so why could you not act sooner?



Parliament authorized the Government to prepare an agreement but only under certain conditions. First, the State ownership will not be less than 34 percent. Second, the agreement must not contravene any valid laws and Parliament’s 40th protocol. Third, State ownership of the deposit must be increased to no less than 51 percent after the initial term of the agreement.


None of these three conditions has been met. The 68 percent windfall profits tax gets annuled only on January 1next year and is in force until then but the Oyutolgoi agreement does not make any mention of it. Again, we own 34 percent of the daughter company while the share price of the parent company has increased by 10 times since the agreement. If we had 34 percent ownership there, it would have been worth USD2 billion to Mongolia. Prime Minister S.Batbold admitted this in Parliament.

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