MPs criticize possible distribution of cashmere loans - News.MN

MPs criticize possible distribution of cashmere loans

Old News! Published on: 2011.05.09

MPs criticize possible distribution of cashmere loans

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Б.Амарбаясгалан
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The Government will soon issue bonds for MNT110 billion and carrying 7% interest, to raise money to support the wool and cashmere sector. Several MPs say it has already been decided which companies will get most of the help. Reports are that MNT20 billion each will be lent to Buyan LLC of B.Jargalsaikhan, Chief of Republic Party, Altai Cashmere LLC of Prime Minister S.Batbold, and Gobi LLC; MNT12 billion to Eermel LLC, MNT6.5 billion to Goyo LLC, MNT3.2 billion to Erdenet Khivs, MNT3.2 billion to Mongol Nekhmel and MNT3 billion to Cashmere Consmekts LLC.

The MPs find it grossly anomalous that rich individuals should get Government loans at a low interest, while ordinary citizens have to pay more for their apartment loans.

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