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http://zgm.mn/post/1282/

President Battulga: Child protection remains inadequate

​President holds the 2nd meeting on child protection with related officials​

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http://zgm.mn/post/1282/


Monitoring the implementation of child protection actions, President of Mongolia Battulga Khaltmaa held the second meeting with the related officials yesterday as scheduled during the previous meeting on August 30. After studying their reports, the President inquired the related agencies for faults and delays.

1335 SIX-YEAR OLDS WERE UNABLE TO ENROLL INTO SCHOOL

President: -I ordered the Ministry of Education, Culture, Science and Sport (MECSS) to prepare the standards for child protection and conduct safety inspections. What has been done in this regard and why hasn’t the standards prepared yet?

MECSS: -We have approved the standards of preschool education institutions in cooperation with the UNICEF. The implementation guidelines have been sent to every kindergartens nationwide. They have started sending their ability to install the standard with their own assets. The study is expected to finalize next month.

President: -11 percent of secondary schools have high risk, 31 percent - medium risk and 57 percent - low risk according to the Environmental Safety Assessment. There are no riskfree schools. The potential victims to the risk is children. Are there any opportunity to make them risk-free?

MECSS: -There are 65 secondary schools under high risk, of which 15 are in the Capital and the rest being in local areas. Majority of the current secondary schools were constructed in the 1970’s. Some buildings are aged over 50 years. We will focus on renovating constructions under the risk assessment.

President: -Enrollment of sixyears olds is becoming a growing problem in local areas. Several parents have already issued complaints on school accessibility. How are you planning on solving this?

MECSS: -As stated by the Law on Education, we are delaying the enrollment of six-year old children by one year. The enrollment of a total of 1335 children were postponed in this regard.

President: -This is not a solution. Every single six-year old child will not live in dormitories. This has to be settled within legal frames. Another problem is daycare centers. Who is responsible for their standards?

MECSS: -There was a decision to operate day-care centers at schools. The ministry cannot monitor private day-care centers. We have submitted a request to the National Authority for Children and the Cabinet and are revising the standards and requirements.

PRIOR NOTICES CAUSE INEFFECTIVE INSPECTIONS

President: -I have received several complaints about retail stores selling expired and/or unidentified products. General Agency for Specialized Investigation (GASI) inspection concluded that they were “unable to settle”. Aren’t there any surprise inspections?

GASI: -Law on State Inspection and Examination identifies planned and unplanned inspections. The planned inspection has to be notified near the end of the previous year, while the unplanned inspections require complaints or requests, as well as five-days of prior notice

President: -Prior notices will result in ineffective inspections. The law has to be reviewed.

GASI: -This is also our facing issue. It is impossible to find any violations with prior notices. Our inspectors are willing to conduct unplanned inspections if the law is revised.

700 PEOPLE BECAME VICTIMS OF CAR ACCIDENTS SINCE JANUARY, OF WHITCH 40 PERCENT WERE CHILDREN

President: -A serious incident occurred on social media last week. How is the action on cybercrime prevention?

National Police Agency (NPA): -The UNFRIEND movement against cybercrime reached over 6.1 million people in a double counting. In cooperation with the Communication and Information Technology Authority, the preparatory works of an influence campaign is currently underway. Also, the NPA has established a unit to fight against cybercrime.

President criticizes Cabinet's lack of response to capital punishment

At the end of the meeting, the President concluded the reports of Ministry of Labor and Social Protection, Authority for Family, Child and Youth Development, MECSS and Education Department of the Capital as inadequate and complimented the GASI, NPA and Traffic Police Authority for their effective actions. He then highlighted the growing numbers of child abuse and its recurrence, which is around 2-3 cases per day, and warned to focus on the issue. He remarked, “I submitted a request to revive capital punishment on child abusers; however, the Cabinet did not respond yet.”

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70 children become victims to cancer every year in Mongolia

One out of four children suffering from cancer are dying at early age in Mongolia

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An 18-months old baby was delivered to his second surgery table just recently. Diagnosed with a rare type of cancer that the country is unable to treat, the infant was sent abroad in hopes that better medical care and equipment would save this brave little heart.

Witnessing the cruelty of the world since birth, this tiny sprout cannot even express the amount of agony he is in. Unfortunately, hundreds of children are suffering from the same illness, struggling to get the better of the excruciating pain. For them, the Pediatric Cancer Hospital of the National Center for Maternal and Child Health (NCMCH) is the only home they know. Some are receiving radiation therapy and some are on surgery beds. It is heart-wrenching to even imagine how much pain they are in.

Up until now, we understood that cancer was an illness for only the elders. But the situation is different now. We can see that cancer is a threat to everyone including infants.

At the NCMCH, 60 infants were diagnosed with cancers in 2016. But the number of cancer discovery among newborns increased to 70 last year. Adding the children that are currently being treated, nearly 700 children are suffering from cancer as of today. The number is constantly on the rise without decreasing. As miserable as it is, the country does not have a single study on the cause of this growing number of pediatric cancer.

“The cause of 95 percent of pediatric cancer remain undiscovered. The remaining five percent are due to genetic mutations, in other words hereditary. The rise in cancer victims is driven by two factors. First, improving diagnosis. We now can discover multiple types of cancer with modern medicine. Secondly, the increasing number of illness that is following the evolution of society,” explained a spokesperson of the NCMCH.

The global rate of successful pediatric cancer treatment is currently at 80 percent. But the rate stands at 75 percent for Mongolia. This means that one out of four children are departing this world at the very starting point.

“Although we cannot ascertain the root of the cause, there are assumptions. For example, it could be a numerous virus or the vulnerability after a common cold could inflict the tumor. Due to the lack of official studies, we cannot be sure whether if air pollution is another source or not. But it is definitely slowing the process of treatment,” said an oncologist at the NCMCH.

It is obvious that there are many factors at play for cancer. But it would not be false to say air pollution is the root of all the potential risks. Troubled by the actual danger among children, another doctor remarked, “I am worried about the newborns. Because they have a very high chance of becoming victims of cancer in just a few years. Although it is not proven scientifically, there is a high chance that this probability could be real.”

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Khurelbaatar Chimed: 319 entities drew loans from two funds

Total losses of three key funds total MNT 395.3 billion

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Minister of Finance Khurelbaatar Chimed held a press conference after the Cabinet meeting yesterday to disclose the results of investigations on state-owned funds, which was conducted following the disclosure of Small and Medium-sized Enterprise Development Fund scandal. However, the finance minister refused full disclosure and postponed the matter onto the fourth week.

The investigations on special purpose funds have been completed weeks ago. But the Cabinet is refusing the reveal the information of loaners, assuring to present it next week. This was the third time the Cabinet postponed the results.

Mr. Khurelbaatar addressed, “There are cases where a single entity was granted loans from three different funds and there are a total of 319 private entities that have drawn loans from two funds. 

Many companies are overdue on repayment, but due to the fact that the Bank of Mongolia does not register the repayment of these funds, the reimbursement has been under a major delay. The overdue loans were reduced from the initial amount of MNT 130 billion to MNT 100 billion in the last one to two months.”

Since the establishment of the Farming Support Fund, over 16,000 entities have drawn loans two or more times. The minister explained that the majority of these were used to pay off previous debts. Further more, a request has been delivered to the Cabinet on dissolving some of these funds. Mr. Khurelbaatar then noted to provide details on the matter once the Cabinet reaches a decision.

Farming Support, Livestock Protection, and Employment Promotion funds granted MNT 938.8 billion worth loans to individuals and entities. As of 2017, the total loss amounted to MNT 395.3 billion. The minister suspects that the loaners may have saved the loans in commercial banks as the interest is lower than savings rates.







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Eight companies announce to disburse dividends so far

Roadshow for Ard Credit IPO to take place today

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Within the legal obligations, the Mongolian Stock Exchange (MSE)-listed firms are required to have announced the information regarding the dividends by today. As of today, eight companies have announced to distribute dividends.

For instance, Gobi JSC has informed to allocate MNT 5.3 billion, or MNT 6.8 per share from the net profits of 2018. The dividend is scheduled to be distributed starting from April 25, either via cash at the headquarter or via bank transfers. Last year, Gobi JSC distributed MNT 1.7 billion in dividends.

Mongol Basalt JSC will be oneyear- old since its IPO in May. The company, which offered 30 percent of its stake, announced to disburse MNT 56.4 million or MNT 1 per share from the net profits of 2018. Disclosure of dividend distribution within the first year after going public had a positive effect on the company’s stock as the price increased from MNT 250 per share to MNT 260 within a week.

Next on the list is Bayan Teeg JSC. The company, which is operating a coal business, is planning to allocate MNT 3,958.7 per share, which is the highest amount of dividend distribution as of today. The dividends will be administered by June 1.

Another public company in the same business field, Tavan Tolgoi JSC has announced its 2018 financial report. Within the financial year, the coal exporter earned a total of MNT 226.4 billion in sales revenue and MNT 52.6 billion in net profits, which is three times lower than the 2017 net profits. The board of Tavan Tolgoi disclosed to disburse MNT 998.7 per share. The company allocated MNT 2,410 per share last year.

A farming industry firm Khuvsgul Altan  Duulga JSC also announced to distribute MNT 1.88 billion, or MNT 120 per share in dividends this year. The company offered a seasoned issue last year and raised MNT 3.74 billion, doubling the number of shareholders, and its market capitalization reached MNT 16.1 billion.

Starting from May 1, a publicly- owned postal service provider Mongolian Post JSC will disburse MNT 468 million, or MNT 4.7 per share, while Talkh Chikher JSC announced to allocate MNT 204.7 million or MNT 200 per share from July 1. Next up is a national meat and meat products manufacturer Makh Impex JSC. The company is planning to administer MNT 456 million or MNT 120 per share in October 2019.

As of today, 305 public firms are listed at the Financial Regulatory Commission. As of the end of 2018, the market capitalization of the MSE stood at MNT 2.5 trillion, a 2.9 growth year over year.

Additionally, the second IPO of 2019 was announced recently. Ard Credit LLC, which operates a non-banking financial institution (NBFI) and has signed a deal with Mongolian Post JSC on delivery service, is planning to raise MNT 4.9- 5.4 billion at MNT 70-85 per share by offering 25 percent of its stake to built up a loan source. Half of the shares are being offered to strategic investors and the other half is for the public. The company announced a roadshow for its IPO at 6.30PM at Corporate Convention Center today.

As of today, a total of 539 NBFIs are operating in Mongolia. Net equity of the NBFIs totaled MNT 1.3 trillion last year, a 32.5 percent growth year over year.

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Parliament to discuss tax package next month

Stakeholders of business sectors discuss package bills on tax

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The Parliament is expected to discuss the package bills on taxes during the Spring session. Accordingly, the Ministry of Finance, General Tax Office, Mongolian National Chamber of Commerce and Industry (MNCCI), Confederation of Mongolian Trade Unions, and business representatives held a discussion on the package bills yesterday. At the meeting, MP Battumur Baagaa informed that the Parliament is planning to call an irregular session to discuss the bill next month.

Lkhagvajav Baatarjav, President of the MNCCI, addressed, “Business representatives held long discussions with the Ministry of Finance on the package bills. We believe that these laws are well-prepared for setting the foundation of a good tax system.”

Minister of Finance Khurelbaatar Chimed highlighted that the key changes in the package bills are the extension of the tax payment period from two months to 24 months, instant repayment of overpaid taxes, the improved authority of tax officials, prevention of investigation on no-risk taxpayers, annulment of the prescription period on tax evasions, and improved accountability of tax authorities.

“Within the frames of the bill, the Government will hold policy to support fair and responsible taxpayers and cut the costs of deductibles. We will take firm actions against tax evasions, avoidance, and unfair taxpayers, collecting full taxes in accordance with the law,” noted Mr. Khurelbaatar. The bill sets a fixed tax rate of 10 percent and entities with an annual income of MNT 50 million or lower will pay 1 percent tax and are required to submit a single financial report throughout the year. While the entities with an annual income of MNT 3 billion or lower are required to submit half-annual reports, the high-income firms are required to submit quarterly reports.

Key changes in the Corporate Income Tax include a reduction of 20 percent tax on the outbound transfer of income to 15 percent, 20 percent deductibles on dividends to foreigners to 5 percent, and 10 percent tax on bank-based financial sourcing to 5 percent.