The Standing Committee on the Economy today discussed a proposal of the Government asking for MNT110 billion to support the wool and cashmere sector, at a time when world demand for cashmere is on the rise. Some members thought any such support will be coming too late this year as Chinese traders have already bought the bulk of raw cashmere from herders.

Minister for Finance S.Bayartsogt said the proposed support is part of a larger plan to help diversification of industries, to avoid total dependence on mining.