ALL GOVERNMENT BODIES AND AGENCIES MUST SHIFT TO CASHLESS TRANSFER OF FUNDS AND PAYMENTS FROM 2011: PREMIER

ARKA
Apr 1, 2010

YEREVAN, April 1, /ARKA/. Armenian Prime minister Tigran Sarkisian
said today all government bodies and agencies must shift to cashless
transfer of funds and payments beginning from 2011.

Speaking at a recurrent Cabinet session he said cash expenses of
different government agencies have slashed by 50% after shifting to
cashless settlement of payments

He said the government is a supporter of cashless transactions and
settlements and its staff will make no cash transaction this year.

‘There are, however, some serious problems in this area, particularly,
in cashless procurements the cost of goods is higher than when it
the cost is paid in cash, which means there is a shadow turnover,’
the prime minister said.

The premier said the government should display initiative and implement
phased steps in this direction to cut the shadow turnover.