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Auctioned state properties to add 70 billion MNT to state budget

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A total of 22 state-owned properties have been listed for privatization, with estimate value of 60 to 70 billion MNT. All the properties will be auctioned off to private organizations within two years, according to the government and the proceeds from the privatizations will be transferred to the state budget.
The privatization will be open to public and staff of the properties will not be affected in any way.
State shares of nine companies will be reduced, while another three state-woned companies will be completely privatized, in an effort to decrease government involvement in business.
The government is planning to auction several other state properties to boost state revenue. An additional 120 million MNT to four billion MNT is estimated to be added to state budget by privatizing state properties.

SOURCE: UB Post




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