YEREVAN, May 16. / ARKA / Armenia’s State Commission for Protection of Economic Competition (SCPEC) has decided today against penalizing Nor Nork Verelak company after the latter agreed to revise downward the price it charged residents of a Yerevan district for using elevators in their high-rise residential buildings.
He said the company was given one week to conclude new contracts with all the residents and reduce the price by 10 percent.
The SCPEC acted on a series of complaints from the residents and disregarded the company’s arguments that the price rise was prompted by increasing maintenance costs and higher taxes. A SCPEC study found that the 35 percent rise was ungrounded.
Nor Nork Verelak is the only company in Nor Nork district in Yerevan operating 492 elevators in high-rise residential buildings. The company closed the last year with a 2 percent profit. A family paid 450 drams a month for using elevators before the company rose the price.
The State Commission for Protection of Economic Competition says it has a hotline number -010- 54-40-04- for the citizens to make their proposals or report a problem. -0-