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Thursday, January 5, 2012

[CPSI NewsAlert: DP to Withdraw from Coalition Government]

CPSI NewsWire brings you market updates on Mongolia, compiled by CPS International, a Mongolian marketing arm of CPS Securities, a Perth, WA based stockbroking and corporate advisory firm, specialising in capital raising for mining and junior stocks.

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Mongolian Democratic Party to withdraw from coalition gov't ahead of election campaign

ULAN BATOR, Jan. 5 (Xinhua) -- Mongolian Democratic Party Chairman Norov Altankhuyag announced Thursday he would withdraw his party from the coalition government led by Prime Minister Sukhbaatar Batbold.

Altankhuyag, also the country's First Deputy Prime Minister, made the announcement during the regular weekly news conference held with the party leaders.

"I have informed the prime minister about the decision to pull out from the coalition. We will work with the prime minister until he finds replacements for the ministers and cabinet members from the Democratic Party," he said.

This move is related to the election campaign of the party for the parliamentary and local council elections to be held in June 2012, Altankhuyag said.

The current coalition government led by Batbold, who is also chairman of the ruling Mongolian People's Party, was formed following the post-election riot on July 1, 2008. Six members of the Mongolian Democratic Party are working as cabinet members and ministers of the government.

"By having a coalition government, Mongolia was able to have a stable political life and overcome the global financial and economic crisis with less damage," Altankhuyag said.

"Now we believe that the Mongolian Democratic Party has fulfilled its historic role and it is time to pull out from the coalition government," he said.

The party's decision will have to be validated by the party's National Consultative Committee meeting, the ruling body of the Mongolian Democratic Party.

Link to article

 

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