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Parliament’s Standing Committee on Budget met yesterday to make the second discussion of State Budget-2010 and the draft law about the budget of Social Insurance Fund.
At the start of the meeting, director of National Auditory Office Ch.Radnaa said it was possible to raise the budget income by MNT 10.5 billion and reduce budget expense by MNT 20.8 billion. He said MNT 5 billion can be raised from Mongolbank and MNt 5.1 billion from oil productions. The biggest money save can be found from child money. Ch.Radnaa thinks by making a realistic child number MNT 12 billion can be saved from the budget. After the discussions, the Standing Committee’s director proposed to vote in 60 issues which were supported by the MPRP and DP groups.
Keeping the budget loss at five percent of the GDP got 100 percent approval. Suggestions to centralize MNT 5 billion from the Central Bank and earn MNT 5.1 billion from oil production, MNT 2.8 billion by raising the iron ore exports, value ton of copper by USD 5800 next year were supported by the Standing Committee.
MPRP and DP group proposals to reduce budget expense were also approved. These include, cut MNT 20.5 billion from the budget of Finance Ministry, MNT 1.3 billion from the budget of Ministry for Food, Agriculture, MNT 1.3 billion from Ministry for Education, Culture and Science as well as MNT 5 billion from the budget of Ministry for Mineral Resources and Energy.
Proposals to raise the constant expenses were highly criticized by the MPs. MP S.Oyun criticized the budgeted MNT 400 million for the repairs of Ikh Tenger Complex but the proposal was approved. MP Z.Altai criticized the proposal to provide MNT 500 million additionally for buying equipments for the National Broadcasting TV. He said there was no control in the state TV.
Z.Altai who was the director of Channel 25 before becoming an MP said he know how a broadcasting organizations work and the expenses. He said that MNT 6 billion for the National TV was too much. But still the majority of the MPs approved the proposal.
Even so, the MPs did not agree S.Oyun’s proposal to give MNT 2 billion to 3rd Hospital to by surgery apparatus for heart surgeries. S.Oyun pleaded the MPs to support this draft because the people may die if the only apparatus breaks down. Furthermore, proposal to give additional MNT 1.8 billion for innovating Ambulance Park was not supported.
The MPs who were celebrating the Human Development Fund few days ago saying it became a law which is directed to the people, dismissed several highly important proposals which were really directed to the citizens.

Mongolian Properties is currently creating two other developments . The Olympic Residence is their newest project, and work on it has started just a few metres down the road from the Regency Residence. It will be a large striking residential building with apartments, penthouses, restaurants, retail and other facilities such as banking.  The Olympic Residence will be completed in December 2010 and is now selling.

Saying that companies in his Association had reservations about the Apartment Financing Corporation (AFC), he said all transactions should be done through commercial banks.  “The AFC will become a source of corruption, we are sure. We want the Government to give risk-free loans through banks,” he said.