PM Babanov states official position of the Government on Kumtor.

The Prime Minister of Kyrgyzstan Omurbek Babanov took part in the session of the Parliament on June 20, 2012 on consideration of the report of parliamentary commission on "Kumtor Operating Company" audit for compliance with norms and requirements on rational use of natural resources, environmental protection, production processes safety and social protection of the population close to the mining site, as well as state control over operations of the company. The Prime Minister announced official position of the Government on Kumtor, reported Tazabek. "I want to stress the position of the Government and the President. We believe that previous agreements on Kumtor where Kyrgyzstan had 66.7% share then was turned into Centerra Gold Inc. with 33%. This is the same position as deputies have. We must follow laws. If there are violations of environmental laws, then Kumtor needs to be fined. Kyrgyzstan can increase its share in the company. We need to work on this issue. We are talking about the company that costs $5 billion, including $1 billion that is directly associated with Kyrgyzstan. Today, the budget of the company stipulates 6 800 million som for tax payments, and the company employs 2 thousand people. The company annually needs about $300 million for its operations. We should not make emotional decisions. The government and the parliament do not have disagreements on this issue, we need to find a single approach to this issue. The decision must be made in the framework of Constitution and the law," said Babanov.

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