GURGEN ARSENYAN CUT CIGARETTE PRICE

Lragir.am
20 June 06

"The currency of the Republic of Armenia is the dram. In the Republic
of Armenia prices are set and payments are made in drams.

Why should I worry about the depreciation or revaluation of a foreign
currency. I am not a representative of the Federal Reserve, the U.S.

House or Senate. I am a representative of the political sphere of
Armenia, a political party, its parliament faction." This statement
was made by a particle of the new parliament majority Gurgen Arsenyan
June 20 at the Pastark Club. Considering that Gurgen Arsenyan is
part of the political sphere of Armenia, the news reporters tried
to find out the attitude of this part towards the revaluation of
the dram and depreciation of the dollar. "As a society we appear
in a strange state, when we start considering the value of another
country’s currency in Armenia. It is another country’s currency. We
must be concerned about inflation, what costs how much in Armenia,
in drams. In Armenia salaries, pensions, benefits and other income
of the citizens of Armenia are in drams.

500 thousand people in the Republic of Armenia get salaries
and pensions in drams. Several hundreds of thousand people in
the Republic of Armenia receive their salaries in drams. We must
be interested in how much bread or fuel costs in drams. We must
be concerned about inflation, rising prices, not the correlation
between the dollar and the dram," said the leader of the Labor Party
Gurgen Arsenyan. He even says as a representative of the economic
sphere rather than the political sphere that he has cut the price of
imported products. "Over the past few months the company I own has
reduced the price of cigarettes by six-seven percent," says Gurgen
Arsenyan, adding that it is a reaction to the revaluation of the
dram, which renders imports more profitable. Gurgen Arsenyan says
he cut the sale price of cigarettes, whereas the price at which they
buy cigarettes abraod has gone up by 10 dollars. Perhaps the change
of price by Gurgen Arsenyan is the result of some other moral and
psychological change. The problem is that several months ago he dared
to announce that he drew huge profits from the revaluation of the
dram and depreciation of the dollar, and so huge that he felt ashamed.