AKIPRESS.COM - The State Great Khural (Parliament) of Mongolia approved privatization of six state-owned companies in accordance with the Cabinet's proposal for the 2017 public budget, according to News.mn.

The six companies are valuing a total of 159.6 billion togrog:

- State Bank of Mongolia for 75 billion togrog (around US$30.6 million);

- Mongolian Stock Exchange for 20 billion togrog ($8.2 million);

- Orgil Rashaan Suvilal, or Health Sanatorium Resort for 7 billion togrog ($2.9 million);

- Mongolia Telecom Company, or MTC for 7.6 billion togrog ($3.1 million);

- Erdenet Bulgan Electricity Distribution Network for 30 billion togrog ($12.2 million).

According to Ministry of Finance, 70% of the state-owned enterprises in Mongolia are operating at a loss.