Pashinyan calls transfer of Electric Networks of Armenia to full state ownership ‘strategic goal’

YEREVAN, November 25. /ARКА/. Armenian Prime Minister Nikol Pashinyan called the transfer of Electric Networks of Armenia (ENA) to full state ownership the government's strategic approach to the company.

"We held discussions and identified two possible options, which I have publicly stated. The first option is to make the ENA fully state-owned in accordance with legally established procedures, after which we will invite a professional manager to run the concession, of course, under government control," Pashinyan explained at a meeting with the ENA's interim manager, Romanos Petrosyan, on Tuesday.

According to him, the second option is that if the cost of making ENA state-owned company is not financially justified and prove to be an unbearable burden on the state budget, a new investor will be brought in.

"Frankly speaking, for me, the first option is the best option; it simply involves a financial and budgetary issue. From a strategic perspective, we will resolve this issue, remove it from the agenda, and in the long term, reduce these risks for our country. Because even if we assume that problems arise with the concession manager, they can be easily resolved," Pashinyan noted.

According to the prime minister, it is important to determine an objective price for the alienation of the ENA, taking into account all the nuances. Including the actions (violations) that led to the company's license being revoked.

"While there's still time, we'll need to calmly reflect, analyze the information (from the administrative proceedings launched against the company), consult with the Public Services Regulatory Commission and the government, and make a decision," Pashinyan said.-0-