At its meeting, the Cabinet of Ministers decided to liquidate LLC 'Erchist Mongolia', which represented the interests of the state in business.
The company had the following functions:
- It owned 34 percent of the shares in state joint-stock companies in the energy sector, as well as
- Acted on behalf of the government in six other organizations, including MIAT Mongolian Airlines, the State Joint-Stock Company 'Mongolian Railways', a road repair and maintenance company, Auto Impex, LLC 'Information and Communication Network', and LLC 'State Housing Corporation'.
Operational activities were financed through loans from commercial banks, which led to the accumulation of debts amounting to ₮3.5 billion and negatively impacted the financial condition of the enterprise.
LLC 'Erchist Mongolia' was established according to a government decree dated January 8, 2025, with the aim of ensuring centralized management and control over state enterprises. However, the company failed to meet the expectations placed upon it, leading to financial difficulties. As a result, the government decided to dissolve the enterprise to prevent further deterioration of its financial condition.
