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Ban on ore export from Kyrgyzstan could lead to unemployment growth

A ban on export of ore from Kyrgyzstan could lead to growth of unemployment. Several deputies announced at a meeting of the Parliament.

According to a deputy Akylbek Japarov, the decision may provoke closure of enterprises during the pandemic.

«There is a growth of unemployment now. In case of introduction of a 7 percent duty on the export of precious metal ores, many enterprises will close, the situation will only worsen. Therefore, the project must be postponed until the fall. And it is necessary to introduce an export tax rate of 3 percent,» he said.

Deputy Zhanar Akayev noted that the bill will bring additional payments to the budget. «About 2,400 licenses have been issued for exploration and development of deposits. Mostly foreign companies in our country are developing gold ore deposits. Seven percent duty is not a lot. Is it bad, if the budget will receive 500-600 million soms annually and we will have the opportunity to build 6-7 schools each year?» he said.

The parliament member believes that, given the income of gold mining companies, they will not leave the Kyrgyz Republic only because of the introduction of an export duty on ore. The project was sent to voting in the third reading.

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