"11 11" CENTER REPORTS

Ulaanbaatar /MONTSAME/ Last week, one thous. 211 people appealed to the Government’s "11 11" center. The Ministry of Industry and Agriculture gave a detailed response to a question about prevention measures taken by the Government in order to restrain an increase in flour prices. "The Government has concluded a pact with 23 flour producers, and granted them soft loans totaling 48.7 billion togrog, under a commodity prices stabilization program," said the Ministry's official. ‘Received this funding, the producers bought wheat per ton for 280 thousand togrog and managed to keep the prices lower as 550-650 togrog per kg. However, after the price agreement ended, the producers begun to buy wheat for 320-420 thousand togrog per ton, thus a slight increase has occurred in the flour retail prices. Other people complained about alleged non-observation of customs exemption regulation on equipment stated in the law on innovation. Responding to this, the Economic Development Ministry said tax exemption regulations for customs and VAT have not been in force yet, but preliminaries such as listing of tax-free equipment and establishing of a responsible authority are under development.