During a regular session on Wednesday, the Mongolian cabinet proposed to abolish excise taxes on some petrol imports. The cabinet has approved the decision to exempt imports of AI-92 and A-80 petrol from excise taxes in order to prevent prices increase. This decision must  be discussed with the IMF delegation that will arrive in Ulaanbaatar tomorrow. If the IMF backs the decision, it will be discussed in parliament.

Petrol prices have increased by MNT 20-150 since 8 January.

Also, the cabinet approved the project of constructing an oil refinery in the Altan Shiree soum (district) of Dornogobi province. Altan Shiree soum is located 20 km from Sainshand, the administrative centre of the province. The construction of the refinery will start later in the year.