HERITAGE PARTY: GOVERNMENT KEEPS A SHARP LOOKOUT FOR ‘SURPLUS’ SAVINGS OF POPULATION

ArmInfo
2010-04-28 15:57:00

ArmInfo. The Government of Armenia "protects" the citizens from
too big savings, said Armen Martirosyan, Armenian parliamentarian
(Heritage Party faction), when commenting on the bill On Compulsory
Liability Car Insurance in the parliament on Wednesday. The parliament
passed the bill in the first reading and is expected to pass it in
the second and final reading.

A. Martirosyan said that the market of car liability insurance
will originate after adoption of the bill will lack anti-monopoly
mechanisms. "For instance, it was suggested to restrict the share
of the market occupied by one company by 30%. The suggestion was
characterized as contradicting the Constitution. However, I met with
relevant experts who said that this suggestion would not contradict
the Basic Law. All this gives a rise to the question regarding the
final destination of insurance premiums. If their key goal is to
protect the interests of our citizens, the unused part of these
amounts could be directed to the state budget, for instance," A.

Martirosyan said. The bill aims to create a ready market for business
with ready incomes, requiring no preliminary investing, he said. "We
could see a similar situation several years ago when the technical
examination of cars was transferred under jurisdiction of specific
private companies, though the government successfully coped with
those functions," A, Martirosyan said.