WHOSE FACTS ARE TRUE?

Lragir.am
13 april 06

The idea that was most often repeated during the parliamentary debates
on the report on performance of the 2001-2003 program of privatization
was the great difference between the value of the company and the price
at which it was sold. For instance, Orbita Factory was assessed at
3 billion but sold for 116 million. Hours after the debates on this
issue the minister of trade and economy Karen Chshmarityan replied
to similar accusations made during the debates on April 10-12.

The minister, as well as the head of the Department for Management
of State Property Karineh Kirakosyan delivered a small lecture on the
topic of value and price, then said, “Orbita was assessed at 3 million
drams and sold at 750 million.” Plus, the company owed debts of 320
million, 220 million other liabilities, salary debt, and products of
550 million produced for the Near East, which, however, the company
had been unable to sell due to the embargo.

Before the privatization 30 people were employed in Orbita who were
paid 15 thousand drams monthly, after the privatization 150 people
work here and get 60 thousand drams, says Karen Chshmarityan. And such
allegations may have a negative impact on the investment environment
in Armenia, he believes. It should be noted that the allegations
of the members of parliament are based on the facts that another
representative of the Executive, the head of the Department for
Management of State Property Karineh Kirakosyan had provided. The
latter characterized Victor Dallakyan’s allegation that the minister
of trade and economic development Karen Chshmarityan owns several
buildings in the center of Yerevan as “irresponsible.”

From: Emil Lazarian | Ararat NewsPress