The Ministry of Mining and Heavy Industries of Mongolia has proposed to the Cabinet to delay the increase of fuel import tax. The proposal aims to stabilize fuel supply and retail prices; it also intends to decrease the tax increase agreed by between the Finance Ministry and IMF team.
Under an IMF programme requirement, fuel import tax must be increased. The level of the hike is set out in Government Resolution 109 from 1 October.
As of 24 October, Mongolia has a nationwide fuel reserve for 42 days.