PRIVATIZATION PROCESS IN NKR TO BE COMPLETED IN NEAR FUTURE

DeFacto Agency, Armenia
March 27 2006

The process of the state property’s privatization that began in the
Nagorno Karabakh Republic (NKR) September 1995 will soon be completed,
chief of the State Property Management and Privatization Department
of the NKR Ministry for Territorial Management and Development of
Infrastructures Arsen Abramyan told De Facto agency.

He stated that by January 1, 2006, 905 small objects and objects of
incomplete construction had been transferred to private property,
or the privatization’s state program has been implemented for 95%.

Arsen Abramyan informed that the amount of 1 milliard 385 million drams
had passed to the NKR budget via the state property’s privatization
by current January 1.

A treaty is signed between a state representative and a new owner. In
case the agreement is not executed the measures provided by law
are implemented towards the latter, including a privatized object’s
confiscation by order of the court.