Ulaanbaatar
Emergency regime imposed for “Tavantolgoi Railways” JSC
Politics
Ulaanbaatar /MONTSAME/. An irregular meeting of the Cabinet was held yesterday and a decision was made to impose an emergency regime for “Tavantolgoi Railways” JSC for a duration of six months. Head of the Legal Department of the Cabinet Secretariat N. Myagmar was appointed as the Government’s Special Representative for the company.
The resolution on the decision was presented by Minister of Road and Transport Development S. Byambatsogt and Deputy Chief of the Cabinet Secretariat U. Byambasuren. During the 6-month special regime, the following measures will be taken:
-Operations of the company will be made transparent and
open to the public
-Governance of the company will be improved and
operations and financial records and reports will be evaluated and reviewed
-Funding spent by the company on the construction project
for the Tavantolgoi-Gashuunsukhait railroad will be reviewed by an independent
audit and a review will be issued.
-Contracts and activities that violate the law, conflicts of interest, and are not in line with the interests of the company will be transferred to the legal authorities for investigation.
