It’s a Chance that the Plant won’t be Liquidated: Artsvik Minasyan

After the draft bill to exempt Hrazdan-Cement CJSC for fines was rejected at the previous four-day NA session, again, for the 4^th time, it was submitted to the MPs for discussion. Artsvik Minasyan, RA Minister of Economy, stressed that the company has been exempt for fines, defined for postponing of taxes, but not of taxes, and it comprises AMD 500 million.

“It’s a chance, that the plant won’t be liquidated, and maintained its profile and workplaces,” A.Minasyan said.

According to him, a shareholder may accuse the other one of inactivity, but not the Government, “Taxes have been accumulated and pursuant the law, fines have been calculated. This step doesn’t even guarantee that the company won’t again face a complicated situation, due to market or exchange rate fluctuations.”

Note, former owner of Hrazdan-Cement Mika Baghdasarov mortgaged it for a loan from VTB Armenia Bank and due to withdrawal of liabilities, shares have been passed on to the Bank.

By Gayane Khachatryan