Armenian premier instructs relevant agencies to inspect gold market in Yerevan

Armenian premier instructs relevant agencies to inspect gold market in Yerevan

YEREVAN, December 5. /ARKA/. Armenian Prime Minister Tigran Sargsyan instructed today the market-regulating agency, the health ministry, the emergency ministry and the State Revenue Committee to inspect Yerevan’s Gold Market and to scrutinize carefully Vagharsh & Sons company, to which the market belongs.   

“The market workers are periodically staging protests outside the government building for various reasons,” he said. “I have looked through the reference provided by the economy ministry’s market-regulating agency, and information in this document has nothing in common with that spread by the media.”

The premier said the scrutiny will clarify things at the market.  

“This problem is very important to us, since 7,000 people work at this market. We should be accurate to get a clear view of the problems and risks we face,” he said. 

On November 28, hundreds of gold traders gathered outside the government building in a protest against fines.  

The protesters were unhappy about the fines imposed on them for unclear fineness marks with smeared-out image of Sasuntsi David on golden jewelry saying that the marks were put on jewelry by the Inspectorate of Assay Supervision and all claims should be addressed to it. 

The businessmen also said that the fine for any piece of jewelry with a wrong fineness mark on it is 50,000 drams (about $124) regardless of its cost price, and more than 100 jewelry pieces are put for sale in any shop.   

Ten traders were reportedly fined yesterday, and the amount of some traders’ fines reached 2 million drams. .----0----

17:47 05.12.2013

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