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AmCham Mongolia Daily Newswire

October 25, 2018

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Cabinet holds its regular session on October 24
During its regular session on October 24th, Cabinet voted to delegate its stakeholder rights to Mongolian Petroleum Refinery Plant to the Ministry of Mining and Heavy Industry and the Government Agency for Policy Coordination on State Property. Officials were asked to conduct negotiations and agreements on ensuring a reliable supply of crude oil, to resolve the financing of pipeline construction, and to select project management consultants and contractors.          

The Official Gazette /page 2/
Cabinet approves a list of companies for 30-day reserves of petroleum
On October 24th, Cabinet approved a list of 26 entities which must have at least a 30-day reserve of petroleum products in 2019, specified with product types and volume. Under the resolution, these companies have to maintain a collective reserve of 116,550 tons of fuel. In 2017, 21 companies reserved 94,700 tons of fuel. The Ministry of Mining and Heavy Industry reported that it is possible to buy a 30-day reserve maintained by the state if funding issues are resolved.

Today /page A2/
Bank of Mongolia holds its monthly press briefing  
The Bank of Mongolia (BoM) held its monthly press briefing on October 24th. Officials presented the results of a consumer inflation expectation survey. Eighty-six percent of the individuals and 83 percent of the businesses surveyed expect the inflation rate to be lower than the BoM’s target 8 percent in the fourth quarter of 2018. The total amount of credit issued by commercial banks in September stood at 474.9 billion MNT, with loans outstanding at 16.2 trillion MNT. Consumer loans outstanding totaled 8.1 trillion MNT, with a 24-percent increase, while corporate loans outstanding equaled 8 trillion MNT, with a 19-percent increase. 
The National Post /page 8/
Nariinsukhait-Shiveekhuren railway proposal to be drafted
During its regular session on Wednesday, Cabinet voted to build a Nariinsukhait-Shiveekhuren railway and a Shiveekhuren-Sekhe railway with standard gauge rails, expecting coal export volume to increase as a result. State authorities will develop a proposal to amend Parliament Resolution No.64, approved in 2014, to include the Nariinsukhait-Shiveekhuren route in measures for ensuring the implementation of state policy on railway transportation. 
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