New order of setting prices for universal postal services approved

ARKA News Agency, Armenia
Dec 7 2007

New order of setting prices for universal postal services approved in
Armenia

YEREVAN, December 7. /ARKA/. The RA Public Services Regulatory
Commission has approved the order of submitting financial reporting
and the order of setting and revising prices for universal postal
services rendered by the Haypost (Armpost) CJSC. Head of the Pricing
Policy Department Armen Arshakyan said that the main idea of the new
order is the division of services and prices into universal and other
types.

He pointed out that universal services include delivery of letters
and parcels up to 20 kg., periodicals to rural regions, as well as
the delivery of documents.

Commission Chairman Robert Nazaryan pointed out that he expects the
company’s efficient cooperation with the Commission in the
population’s interests.

`We hope that the decisions will produce positive results, and the
population will feel considerable changes in the services rendered by
Haypost in a year,’ Nazaryan said.

Haypost Director General Hans Boon pointed out that the company has
to do substantial work, and the documents approved by the Commission
will find their proper application in the Commission’s cooperation
with the company. The Commission’s decision is to take effect from
January 1, 2008.

A contract for the transfer of the Haypost company to the management
of to the Dutch Haypost Trust Management was signed in Yerevan on
November 30, 2006. Under the contract Haypost was transferred to
5-year trust management with the right to prolongation for the next
five years.

Haypost Trust Management (Amsterdam, Holland) was founded to
implement a trust management program and is cooperating with the Post
Finance International Company, which specializes in reforming and
modernizing postal services in developing countries.

The Dutch manager plans to invest a total of $12mln in the
modernization of Armenia’s postal service. Among the priorities is
the improvement of quality, foundation of a special bank, Post Bank,
in Armenia, which is to be opened in the near future.-0–